Fri, Sep. 9, 4:33 AM
- Deutsche Bank (NYSE:DB) +3.5% premarket after Germany's Manager Magazin reported that the bank will pay more than $2.4B to settle mortgage cases with U.S. authorities.
- Shares in Commerzbank (OTCPK:CRZBY) are also near the top of the DAX on reports that Germany's second biggest lender is looking to radically overhaul its corporate banking business that serves small and medium sized companies.
Wed, Aug. 31, 3:32 AM
- Rumors are swirling that Deutsche Bank (NYSE:DB) explored a possible merger with rival Commerzbank (OTCPK:CRZBY) and mulled options such as reintegrating its Postbank consumer branches that were earmarked for sale.
- The considerations were "only of a theoretical nature" and at a very early stage, Germany's Manager Magazin reported, without saying where it obtained the information.
Tue, Aug. 2, 5:39 AM
Tue, Aug. 2, 4:49 AM
Thu, Jun. 30, 5:34 PM
- Commerzbank (OTCPK:CRZBY -0.2%) will cut more than 100 jobs from its New York office amid an investment banking slowdown, The Wall Street Journal says.
- Moves to bundle activities in "centers of competence" have now come to North America, the company said.
- The cuts will mean that the German lender will outsource some clearing, and stop securities lending and its structured finance business in the U.S., while keeping dollar-denominated loans and bonds along with risk-management solutions and equity market access.
Thu, Jun. 9, 3:18 AM
- Lenders are rebelling against their central banks' negative interest rate policies, with reports suggesting Commerzbank (OTCPK:CRZBY) going so far as to weigh storing billions of euros in vaults rather than keeping them with the ECB.
- Some savings banks in Bavaria are also exploring storing physical notes and Munich Re said this year it would experiment with holding at least €10M of reserves in cash to see whether or not it was practical.
Tue, May 3, 8:56 AM
Tue, May 3, 2:54 AM
- HSBC's first-quarter earnings fell 18.2%, but beat forecasts, as the British bank grappled with its Asia strategy.
- Profits also slumped at UBS, as its wealth-management business suffered and its investment bank failed to pick up the slack.
- BNP Paribas (OTCQX:BNPQF) reported a jump in net income despite difficult markets, following lower provisions against bad retail loans and a debt valuation adjustment.
- Market turbulence and low interest rates dragged down the earnings of Commerzbank (OTCPK:CRZBY), which posted a 52% drop in Q1 net profit.
Fri, Feb. 12, 6:26 AM
- Commerzbank AG (OTCPK:CRZBF): Q4 EPS of €0.15.
- Revenue of €2.23B (+20.5% Y/Y).
Fri, Feb. 12, 4:05 AM
- Commerzbank (OTCPK:CRZBY) returned to profit in Q4 and announced its first dividend since 2007 after revealing lower bad loan provisions.
- A raft of new model sales offset a Russia write-down for Renault (OTCPK:RNLSY) as the French carmaker logged a 50% jump in full year profits.
- Rolls-Royce (OTCPK:RYCEY) slashed its final dividend for 2015, but continued its restructuring efforts with a 20% cut to the top two layers of senior management.
Dec. 25, 2015, 4:50 AM
- Commerzbank (OTCPK:CRZBY) is suing four banks in the U.S., claiming that they failed to properly monitor billions of dollars in toxic MBSs acquired by the German lender before the 2008 financial crisis.
- BNY Mellon (NYSE:BK) and units of Deutsche Bank (NYSE:DB), Wells Fargo (NYSE:WFC) and HSBC (NYSE:HSBC) were named in the lawsuits.
Nov. 2, 2015, 2:24 AM
- Commerzbank (OTCPK:CRZBY) Chief Executive Martin Blessing has rejected an offer by the bank's supervisory board to extend his contract beyond October 2016, becoming the latest CEO to join an unprecedented wave of management changes at Europe's banks.
- "It is now time for me to embark on a new chapter in my professional life," he said in the statement.
- Blessing, who became CEO in 2008, was given the task of leading the bank out of the financial crisis and subsequent €18.2B bailout.
Jan. 9, 2015, 7:54 AM
- More than half of the €7.5B in newly issued Santander (NYSE:SAN) stock was purchased by U.S. investors, reports the FT, with about 25% bought by U.K. owners.
- The bank issued 1.214B shares at £6.18 each as new executive chairman Ana Botin quickly broke ranks with her late father's strategy just four months after replacing him atop the company.
- The ADRs are lower by 4.5% premarket after yesterday's 7% decline.
- Now that Santander has joined Deutsche Bank in raising capital, analysts turn their attention to the next dominoes. High on the list: BNP Paribas (OTCQX:BNPQY), Societe General (OTCPK:SCGLY), Credit Suisse (NYSE:CS), Commerzbank (OTCPK:CRZBY), and Credit Agricole (OTCPK:CRARY).
Dec. 12, 2014, 1:58 AM
- Commerzbank (OTCPK:CRZBF, OTCPK:CRZBY) is nearing a more than $1B settlement with U.S. authorities over alleged violations of U.S. sanctions and anti-money laundering laws.
- The settlement is in the final stages of negotiations and could be announced by the end of the year.
- It was reported in September that Commerzbank was close to an agreement with the U.S., but a lower $650M settlement figure was quoted at the time.
Sep. 4, 2014, 1:49 AM
- Commerzbank (OTCPK:CRZBF, OTCPK:CRZBY) is closing in on a settlement with U.S. authorities over its dealing with countries under U.S. sanctions, including Iran and Sudan.
- The bank is expected to announce the deal within the month and is expected to pay approximately $650M to resolve the probes.
- New York's Department of Financial Services is likely to get the bulk of the settlement, receiving $300M.
Jul. 10, 2014, 2:41 AM
- Commerzbank (CRZBF, CRZBY) is now expected to pay between a $600-$800M settlement for its money transfer operations which evaded U.S. sanctions, CNBC reports. The bank is accused of transferring money on behalf of companies in Iran and Sudan.
- It was previously reported that the bank would have to pay more than $500M.
- Over the past five years, American authorities have found more than half a dozen foreign banks guilty of sanctions violations.
- The U.S. is still probing UniCredit (UNCFF), Credit Agricole (CRARY), Societe Generale (SCGLF), and Deutsche Bank (DB).