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- German bank market dominated by Deutsche Bank and Commerzbank, both at all time lows.
- European Central Bank about to start asset-backed security purchases.
- German banks about to have their bad debt bought off them.
- Could this be the start of the share price recovery for Deutschebank and Commerzbank?
- We provide an overview of Commerzbank's balance sheet.
- We analyze its strengths and weaknesses based on this information.
- We claim that Commerzbank is currently selling at a discount, and could be an interesting investment.
Fri, Dec. 12, 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.
Thu, Sep. 4, 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.
Thu, Jul. 10, 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).
Tue, Jul. 8, 3:36 AM
- U.S. authorities are starting to discuss settlement options with Commerzbank (CRZBF, CRZBY) and Deutsche Bank (DB) for their money transfer operations which evaded U.S. sanctions, Reuters reports. The banks are accused of transferring money on behalf of companies in Iran and Sudan.
- Commerzbank, is likely to settle with a deferred prosecution agreement that would suspend criminal charges in exchange for a financial penalty and other concessions. The NYT reports the bank could likely pay at least $500M, although the the timing of the deal is still unclear. The bank set aside $1.3B at the end of 2013 as a provision for litigation risks, including a possible U.S. investigation.
- The new litigation comes after last week's BNP Paribas settlement for $9B.
Tue, May. 20, 5:06 AM
- JP Morgan (JPM) and private-equity firm Lone Star are in the final stages of acquiring a portfolio of Spanish property loans from Germany's Commerzbank (CRZBF) for €3.7-3.9B (up to $5.4B), Reuters reports.
- The assets comprise €1B of non-performing debt and €3.3B of performing loans backed by office blocks and shopping centers.
- Should the deal go ahead, JPMorgan and Lone Star would be following other major foreign investors - particularly Blackstone - into a property sector that is apparently starting to recover from a massive bust that occurred during the financial crisis.
Mon, Mar. 10, 3:44 PM
- German banks - including Deutsche (DB) and Commerzbank (CRZBF, CRZBY) - will not have to hand over details of mortgage loans as part of the ECB's asset quality review, reports the FT.
- The German housing market is its own bird, with borrowers often having higher down payments and locking in rates for at least 10 years. The home ownership rate is just 44% compared to Spain at 83%. Because of the lack of activity, German banks traditionally value their loans when the mortgage is taken out, as opposed to other banks who more frequently update their portfolios.
- New rules will force banks to revalue loans which haven't been independent assessed in over a year, essentially meaning a costly national revaluation in Germany. It is this the German bankers lobbied against and it appears they've successfully made their case.
- German real estate has gotten perky over the past few years, with the Bundesbank naturally sounding warnings, but private economists note the gains have been modest by true bubble standards.
Jun. 18, 2013, 6:53 AM
May. 29, 2013, 3:34 AMGermany's largest banks, including Deutsche Bank (DB) and Commerzbank (CRZBF.PK), were €14B short at the end of 2012 of the capital they will need to meet Basel III banking requirements. However that's down from €32B earlier in H2 and the banks still have until 2019 to comply. Meanwhile, the BaFin regulator says Libor manipulation appears to have been limited to individuals rather than to have been due to "systematic criminality." | Comment!
May. 14, 2013, 10:05 AMCommerzbank (CRZBY.PK) is in "intensive" talks to unload the bulk of its €5.7B portfolio of U.K property loans to Wells Fargo (WFC) and P-E fund Lone Star. The disclosure was made in the prospectus for its capital raise launched today. About a month ago it was reported the parties were in exclusive talks for the assets in what could be a sweet deal for the buyers. | Comment!
May. 14, 2013, 7:05 AMCommerzbank (CRZBY.PK) sets its capital raise, offering 556M shares at 4.5 euros each, a 55% discount to Monday's close. Excluding the value of subscription rights - set at 2.65 euros/share - it's inline with expectations for a 38% discount. With the money, the bank will repay Germany and Allianz, saving about 200M euros/year. Stock's off 1.8% in Frankfurt. | Comment!
Jan. 24, 2013, 5:51 AMCommerzbank (CRZBF.PK), Germany's second-largest lender, is joining the long list of banks that are slashing jobs with plans to cut 4,000-6,000 positions worldwide by 2016. The staff reductions are part of Commerzbank's cost-savings program as it looks to reach its "profit and growth targets amid a continuous difficult environment." | Comment!
Sep. 25, 2012, 6:03 AMGermany has a particular interest in helping Spain through its crisis, as the exposure of German lenders to the Mediterranean country is $139.9B, of which $45.9B is to banks. German institutions are particularly exposed to covered bonds, which are often backed by the collateral of consumer mortgages, whose values may have been affected by the cratering of the residential market. | 1 Comment
Sep. 13, 2012, 5:08 AMRBS, Commerzbank and Standard Bank are suing Dubai Group for the immediate repayment of loans after withdrawing from talks to restructure the holding company's $10B debt three months ago. It's an unusual move given that banks tend to take the best terms they can get with the emirate, especially as the group is owned by Dubai ruler Sheikh Mohammed bin Rashid al Maktoum. | 1 Comment
Jun. 8, 2012, 2:48 AMEurozone capital flight is leaving German banks flush with cash. Deposits in German banks rose 4.4% Y/Y to €2.17T as of April 30, according to the ECB, while deposits in Spain, Greece and Ireland shrank 6.5% to €1.2T in the same period. The influx is a boon for domestic banks, and both Deutsche Bank (DB) and Commerzbank have taken in billions of euros in additional customer deposits. | 2 Comments
Jun. 6, 2012, 3:18 AMCommerzbank (CRZBY.PK), Germany’s second-largest bank, has its credit rating cut one level by Moody's. The move is a "bit harsh," say some analysts, but eurozone uncertainty does pose a potential risk to German firms. Five other German banks were also downgraded and Deutsche Bank (DB), Germany's largest lender, is still under review. | 1 Comment
Jul. 6, 2011, 7:49 AM
CRZBF vs. ETF Alternatives
Commerzbank is Germany's third-largest private-sector bank with more than Euro444.9 billion in total assets as of Dec 31 2005. Co.'s domestic operations include a network of over 800 branches. Internationally, Co.'s activities are concentrated in Europe and other key markets, including the U.S.... More
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