Commerzbank will require support from the government
The second largest German bank is interested to recruit fresh capital Rescue Fund, the government says "Handelsblat" Decision will be taken at a meeting of the board of the bank. Will be discussed possibility of 480 billion euros. If the bank decides that capital injection, the government will receive a direct impact on the trade policy of the vault. Spokesman of Commerzbank stressed that the bank would put the package of measures the government. The Bank is interested in all the instruments of the Fund as the option of recapitalization, said experts from the bank. The background remains the ongoing crisis and absorption of Dresdner Bank. In the third quarter to accumulate a lot of commitments to bankrupted partnership for Lehman Brothers and loans to Iceland, argue domestic sources. This is one more reason to monitor the bank's capital base. In Wednesday the bank will announce its results for the quarter.Commercial banks in Germany discuss universal use of the fund guarantees.
The plan will help Germany to overcome "serious problems" in its economy, avoid excessive distortion of the competitive environment, clarifying the Commission. Regional bank BayernLB this week was the first to state that he will benefit from the fund and bank WestLB and HSH Nordbank announced that likely will follow the example "Komertsbank) buy" Drezdner Bank for 9.8 billion euros from "Allianz", creating a leading competitor in Germany, "Deutsche Bank. The acquisition will become twice - this year 60 percent of the shares and the rest - next year. The majority of the cost will be paid to Allianz 'shares by insurance company will continue to hold a share of nearly 30 percent in the new "Komertsbank." Komertsbank announced it plans to reduce its costs by around 2 billion euros, 9 obscured thousand jobs after the acquisition.
Labels: Business News
posted by Zoritza Petrova @ 12:03 AM
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