Commerzbank is an international commercial bank having its headquarters at Kaiserplatz in Frankfurt, Germany.
It has approximately 51,300 employees and operates in more than 50 countries, and Germany and Poland are the main markets for the bank. In Germany it has approximately 1050 branches and more than 90 consulting centres for its customers and has one of the richest networks of bank branches among German private banks.
Outside Germany it has 23 operational foreign branches, 35 representative offices and 6 material subsidiaries. The bank accounts for financing more than 30 percent of Germany’s foreign trade and is a market leader in financing for SMEs.
The four business areas of the bank include Private customers, Mittelstandsbank, Corporates and Markets and Central & Eastern Europe. The bank offers banking and capital market services to its customers through the above mentioned four segments. Besides it has non-core assets business segment. It owns two of the world’s most innovative banks – Comdirect and Poland’s mbank. The focus of the bank is driven by its Strategic Agenda 2016 and the current strategy of the bank is to “to reduce risk, optimise the capital base, pursue a policy of strict cost management and to invest in the Core Bank’s earnings power.” Customer satisfaction has been at core in all the strategies of the bank. Some of the initiatives and launches that the bank undertook in 2015 define the same. For instance – linking of the Paydirekt to the customer account without involvement of the third party, opening a new account and confirming their identity online using webcam and launching the Cash Management App to get real time overview of their and third party banks in Germany.
The bank has generated a net profit of 163 millino euros which has fallen significantly in comparison to the same time period last year. In view of the slowing global economy the bank agrees that it would be challenge for the bank to post the same net profit in the current fiscal year as in fiscal year 2015.