This is an old revision of this page, as edited by 86.143.159.186 (talk) at 02:25, 5 September 2008 (Undid revision 236181727 by Gr1st (talk) Reverting vandalism). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 02:25, 5 September 2008 by 86.143.159.186 (talk) (Undid revision 236181727 by Gr1st (talk) Reverting vandalism)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) This article is about the bank headquartered in Frankfurt, Germany. For Commerce Bank, see Commerzbank (disambiguation).| File:Commerzbank.svg | |
| Company type | Public (FWB: CBK) |
|---|---|
| Industry | Financial services |
| Founded | 26 February 1870 |
| Headquarters | Frankfurt am Main, Germany |
| Key people | Martin Blessing (CEO and Chairman of the executive board), Klaus-Peter Müller (Chairman of the supervisory board) |
| Products | Retail, commercial and commercial real estate banking |
| Revenue | €7.879 billion (2007) |
| Operating income |  €2.513 billion (2007) |
| Net income | €1.917 billion (2007) |
| Total assets | €616.5 billion (2007) |
| Number of employees | 36,770 (2007) |
| Subsidiaries | Eurohypo |
| Website | www.commerzbank.com |
Commerzbank AG (FWB: CBK) is the second-largest bank in Germany (after Deutsche Bank), headquartered in Frankfurt am Main.
Commerzbank is mainly active in commercial banking, retail banking and mortgaging. It suffered reversals in investment banking and shut its Commerzbank Securities investment banking unit.
Commerzbank holds a nationwide network of branch offices throughout Germany and numerous branch offices all over the EU and Europe (namely London, Luxembourg, Poland, Spain and Switzerland) and with a leading market share in online banking. EuroHypo is an integral part of Commerzbank.
The bank further holds representations and holdings in some commercial and financial centers in Asia and the Americas, however it does not have a presence in Tokyo.
History
Commerzbank was founded in 1870 by individual and merchant bankers in Hamburg. After merging with Berliner Bank, it moved its headquarters to Berlin in 1905. After World War II, the headquarters first moved to Düsseldorf and, in 1958, to Germany's financial centre, Frankfurt.
The Commerzbank Tower (designed by British architect Norman Foster) was Europe's first ecological skyscraper and also, from its completion in 1997 until 2004, Europe's tallest skyscraper at a height of 301 meters.
Commerzbank was the first German bank to establish a branch in New York City in 1971, however this office was significantly scaled back in 2004 with the demise of its investment banking unit, Commerzbank Securities. The building also appears in the European tileset for the game SimCity 4.
In August 2008, Commerzbank announced that they are to purchase 100% of Dresdner Bank,largely with shares, a deal expected to be completed by the end of 2009. At the conclusion of the purchase, it is expected that Allianz will control Commerzbank through a 30% ownership share.
Trivia
The Commerzbank was featured as a default background for Motorola's Razor Cell Phone.
See also
References
- ^ "Annual Report 2007" (PDF). Commerzbank. Retrieved 2008-08-25.
- http://www.cnbc.com/id/26452872
External links
- Commerzbank home page
- Comdirekt online banking (German only)
- Eurohypo home page
