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Commerzbank seeks stronger expansion in private customer business

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Commerzbank seeks stronger expansion in private customer business

Commerzbank AG will aim to speed up the expansion of its private and small-business customer operations to counter higher margin pressure in the credit and securities business and achieve its 2020 strategic goals, Handelsblatt reported August 12, citing Michael Mandel, head of the division.

The weaker margins mean that Commerzbank will have to work harder to raise assets under control in the private and business customers segment, Mandel told the German newspaper in an interview. Commerzbank wants to have €400 billion of assets under control in the unit by 2020, having reported a figure of €386 billion at the end of June, slightly above a €385 billion target.

He also said Commerzbank will fight hard to remain in the DAX German benchmark stock index, which it is at risk of dropping out of in September because of its decreased market capitalization.