Commerz Bank

Commerz Bank

 

one of the largest banking concerns in the Federal Republic of Germany (FRG). It is one of the “big three” banks (the Grossbanken), along with the Deutsche Bank and the Dresdner Bank.

The Commerz Bank was founded in Hamburg in 1870 to finance foreign trade. By the start of World War II it had moved to third place among the country’s largest banks. It played a major role in financing fascist aggression and plundering the occupied countries. After the war the Commerz Bank was broken up at first, but then with the assistance of the Western occupation forces it was restored.

The Commerz Bank is the center of one of the financial groups of the FRG, a group including the Kaufhof and Karstadt trade concerns, the Gerling insurance concern, and the Goldschmidt industrial enterprises. The Commerz Bank has branches and offices in 14 countries and is a part owner of banks in 20 countries (1972). It is a founder and co-owner of many of the privately owned international banks that arose in the late 1960’s. In 1970 the Commerz Bank concluded the Agreement on Cooperation with the second largest bank in France, Crédit Lyonnais; in 1971 the largest bank in Italy, the Banco di Roma, signed the pact. In early 1972 this international banking group had 3,036 branches in the FRG, France, and Italy. In late 1970 the capital stock of the Commerz Bank was 350 million marks. The balance total was 19.7 billion marks; deposits stood at 14.7 billion marks, and discounts and loans totaled 13.8 billion marks.

V. N. SHENAEV

References in periodicals archive ?
The impact of sanctions] has exacerbated more after three European banks including Credit Agricole, BNP Paris Bas and Commerz Bank were fined by the source state [US]," he added.
This announcement follows a year of growth for BNP Paribas In depositary banking, which also acquired the depositary banking business of Commerz bank in Germany, completing the acquisition in November 2013.
The bank's other strategic partners include Netherlands Development Finance Company, International Finance Corporation, Belgian Investment Company for Developing Countries, European Investment bank, Finnish Fund for Industrial Cooperation, African Development Bank, Export-Import Bank of the US, African Export-Import Bank (AFREXIM), and Commerz Bank.
And the market's faith in the project was apparent when Commerz Real, part of Germany's Commerz Bank, agreed to buy the pre-let block for pounds 47m.
Many leading organizations deploy iTrinegy technology including ABN Amro, Alcatel, Aviva, Speakerbus, Commerz Bank, HM Government, TNT Express, Vodafone, Motorola, Boeing, EDS, General Dynamics, IBM, Thomson Reuters, Schlumberger, Sega, Starbucks, Tata Communications, Unisys, US Army, US Air Force and US Coast Guard.
Al-Kharji, stated that the Joint Lead Managers (JLM's) and Bookrunners (BR's) in this issuance include LMH, HSBC Plc, and Standard Chartered Bank, while Abu Dhabi Islamic Bank and Commerz Bank AG appointed as JLM's.
Germany is one of the three key markets in Europe and Computron's financial, workflow, and COOL products could fit well into that market, especially into the non-manufacturing segments of the market, as our sales to Deutsche Bank and Commerz Bank would indicate.
BofA syndicated the credit with six banks: Societe Generale, Bank of China, Bank of Communications, Commerz Bank, The Development Bank of Singapore and Oversea-Chinese Banking Corporation.
Software Shelf customers include Commerz Bank Germany, Microsoft, Hewlett-Packard, British Dept.
Repeat customers included ABN AMRO, Affiliated Computer Services, American Honda Motor, Applied Materials, Capgemini, Cendant, Cisco, Charles Schwab, Commerz Bank, Deutsche Telekom, eBay, FedEx, General Electric, Kemper Auto & Home Insurance, MetLife, Pfizer, PNC Bank and the U.
Other major European clients include Commerz Bank, Shitac Ernst & Young, Nestle, Fiat, Villeroy & Boch, Philips Electronics, KLM Royal Dutch Airlines, and Procter & Gamble Co.