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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.

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