logo
Plus   Neg
Share
Email

Commerzbank Mulls Closing Up To 200 Branches: Handelsblatt

German lender Commerzbank AG (CRZBY.PK) is considering closing around 100 to 200 branches, Handelsblatt business daily reported citing people familiar with the matter.

The bank, which is under pressure to trim costs, is likely to reduce the number of branch offices to around 800-900 from the current 1000 retail branches.

The reported move is part of its ongoing strategy reviews.

The bank's supervisory board is likely to discuss its new strategy at the end of September.

The lender recently reported a slight drop in profit in its second quarter hurt by lower revenues.

Commerzbank then said it will continue its growth strategy in 2019 and expects higher underlying revenues than in the previous year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection. Epithelioid sarcoma is a rare sub-type of soft... STIHL recalls about 16,400 STIHL RE 90 pressure washers due to injury hazard. According to the company, the recalled pressure washer nozzle can disconnect from the spray wand when under pressure during use, posing an injury hazard. STIHL said it received seven reports of the nozzle detaching from... CVS Health Corp. launched 13 new HealthHUB locations in CVS Pharmacy stores across Philadelphia and South New Jersey. The healthcare company said it developed the HealthHUB store format to help people manage chronic conditions more conveniently and affordably. The store also features health and wellness products, clinical services and expertise.
Follow RTT
>