Commerzbank said on Friday it wanted to shed thousands of staff and close a fift...
FRANKFURT - Commerzbank said on Friday it wanted to shed thousands of staff and close a fifth of its branches in a strategy overhaul, after the German lender’s attempt to merge with Deutsche Bank failed.
Commerzbank said the strategy plan would involve investment of 1.6 billion euros , with 750 million euros going into new technology and the rest earmarked for restructuring. Klaus Nieding, vice president of shareholder lobby group DSW, said the bank needed to do more than cut costs. “The big question remains how the bank wants to make money in the future,” he said.
The sale of its 69.3% stake in mBank has a market value of more than 2 billion euros . Commerzbank said the proceeds would enable “a faster implementation of its strategy and the associated investments”.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
US Treasury yields lower after Fed cuts ratesU.S. government debt prices were higher Thursday morning, after the Fed failed to signal further rate cuts this year, disappointing market expectations.
Consulte Mais informação »
Opinion: Trump's bad faith auto emissions mandate is another example of presidential power run amokOpinion: Trump's bad faith auto emissions mandate is another example of presidential power run amok (via latimesopinion)
Consulte Mais informação »
Fed cuts rates again, telegraphs more rate cuts by year endThe Federal Reserve will announce its next moves on rates this afternoon. Wall Street is expecting a 25 basis point cut.
Consulte Mais informação »
Exclusive: Deutsche Bank has discussed adding assets to bad bank if sales go well - sourcesSome senior Deutsche Bank AG officials have discussed the possibility of putting...
Consulte Mais informação »
5 things to know before the stock market opens ThursdayThe Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.
Consulte Mais informação »
Trump sues Manhattan District Attorney Cyrus Vance over attempt to get tax returnsThe Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.
Consulte Mais informação »