trending Market Intelligence /marketintelligence/en/news-insights/trending/qm1rGk0m__UqHbFHnYst7Q2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Commerzbank kicks off process for mBank exit

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Report: Commerzbank kicks off process for mBank exit

Commerzbank AG has begun sounding out potential buyers of its stake in mBank SA, kicking off a process that forms part of its new strategy.

Germany's second-largest bank by assets has tapped Goldman Sachs as an adviser on the potential deal, with JPMorgan advising mBank, people familiar with the matter told Reuters. A formal sale process is expected in the coming months, with one source saying informal talks are ongoing.

In late September, Commerzbank unveiled a new strategy that would see it invest heavily in digitization and cut jobs. It plans to off-load its 69.31% interest in mBank and use the proceeds to fund the measures under the plan. The stake is worth roughly $2.65 billion, according to the Oct. 11 report.

A key point in the mBank sale process is the large portfolio of Swiss franc-denominated mortgages it holds. Another bump in the road is a recent ruling of the EU Court of Justice allowing holders of such loans to convert them into Polish zlotys, potentially leading to big losses.

Despite this, mBank, the fourth biggest Polish bank, remains a "very attractive asset," a senior banking source told Reuters, adding that potential buyers could be identified toward 2019-end. Another source said there was interest from within and outside Poland.

Outgoing Commerzbank CFO Stephan Engels previously noted that a sale will unlikely happen in 2019 and that the actual process could take around two years.