Commerzbank Was Founded In 1870 And Is One Of The Three Largest Banks In Germany. Its Total Assets At The End Of 2009 Were About 844.103 Billion Euros. The Headquarters Of Commerzbank Is Currently Located In Frankfurt And Is One Of The Constituent Companies Of The German Stock Index DAX. In Terms Of Assets, The Bank Is The Second Largest Bank In Germany, After Deutsche Bank, And Belongs To The Few German Banks That Also Offer Free Bank Accounts. Specialized Real Estate Bank Eurohypo Is A Subsidiary Of The Bank. Due To Recent Money Laundering Incidents And Arrogant Attitude Towards Customers, Commerzbank Is Currently In Deep Financial Crisis. From 2016, It Plans To Lay Off 10,000 People.
History
Commerzbank Was Founded In Hamburg In 1870 By A Group Of Businesspeople. After Merging With Berliner Bank In 1905, It Moved To Berlin. After World War II, It Moved To Düsseldorf And Frankfurt In 1958. In August 2008, The Bankruptcy Of Lehman Brothers - A Month Before The Full-blown Financial Crisis, Commerzbank Announced The Acquisition Of All Shares Of Dresdner Bank, One Of Europe's Leading Investment Banks, For 9.80 Billion Euros, Leaving Neo-Deutsche Exposed To Both Mergers And Acquisitions And The Financial Crisis. After The Merger Of The Two Banks, Neo-Commerzbank Surpassed Deutsche Bank In Both The Number Of Customers And The Number Of Domestic Outlets. After The Merger, The Investment Banking Department Of Dresdner Bank Was Downsized And Integrated With The Relevant Departments Of Commerzbank To Form A New Investment Banking Department, Corporates & Markets, With Offices In Major Financial Centers Around The World Such As London, New York, Hong Kong, Tokyo, Singapore, Etc.
Commerzbank Established A Shanghai Branch In 1993 And Became One Of The First Foreign Banks To Obtain A Full RMB Business License In 2000. The Shanghai Branch Is Now Located In The Lujiazui World Financial Center And Has Branches In Beijing And Tianjin On The Mainland. In Addition, It Retains A Large Investment Banking Team In Hong Kong And Singapore.
