Commerzbank Posts Clear Growth in the Netherlands
FRANKFURT, Germany, October 2, 2013
FRANKFURT, Germany, October 2, 2013 /PRNewswire/ --
*15 per cent rise in number of corporate clients
*Survey sees top marks for German companies
*Commerzbank celebrates 40 ^th anniversary in the Netherlands
Last year Commerzbank posted considerable growth in its corporate client
business in the Netherlands. The number of German companies whose subsidiaries
in the Netherlands are clients of Commerzbank increased by some 15 per cent to
680. "We have achieved our own targets with this growth. Through to 2017 we
want to attain a figure of 750 here," said Country Manager Dirk Dreiskämper at
a press conference in Amsterdam on Tuesday. Commerzbank was also able to
increase the number of multinational Dutch clients with subsidiaries in
Germany to 50, a rise of 10 per cent. Germany is the most important trading
partner for the Netherlands. In return, the Netherlands is Germany's most
important partner after France.
The country has traditionally also been of great significance for Commerzbank:
Germany's second-largest bank opened its doors in the Netherlands 40 years
ago. To mark the occasion the Bank had invited numerous clients, business
partners, and employees, as well as representatives from the world of politics
and society, to an anniversary reception in the Hermitage Amsterdam Museum on
Tuesday. "We are proud that we have already been represented in this wonderful
country for four decades already," said Mr Dreiskämper. That German products
also enjoy a high reputation in the Netherlands is revealed by a recent survey
conducted by Commerzbank. In the survey German companies represented through
their own sites in the Netherlands state that they have observed that German
brands enjoy a high reputation there. Nearly as important, according to the
survey, is the fact that a German company controls the production process.
Whether a product is actually manufactured in Germany or in another country is
of less importance for customers, state the surveyed companies. "The quality
seal 'Made in Germany' continues to be an asset, but it is now supplemented by
the appreciation for 'Managed in Germany'," explained Mr Dreiskämper. Also
pleasing, he added, was the fact that no specific difficulties in the
international cooperation between Germany and the Netherlands were articulated
in the study.
Commerzbank has for many years been the market leader in Germany for business
with small- and medium-sized companies; following the integration of the
former Dresdner Bank in 2011 it is represented in more than 50 countries with
some 60 sites. Worldwide it has more than 5,000 correspondent relationships,
and is thus an international leader. The merger here in the Netherlands was
also a major step towards the internationalisation of the corporate client
business. Commerzbank is now able to offer a range of products and services in
corporate and investment banking. The objective of Commerzbank in the
Netherlands is to achieve core bank status with Dutch corporate clients. The
Bank is becoming the number one among the international banks for major Dutch
companies with ties to Germany and for those doing cross-border business.
Commerzbank has been present in the Dutch market in corporate client business
to date. Its business model is based on the traditional business relationship
to clients through loans, liquidity control, and payment transactions.
Furthermore, Commerzbank offers companies direct access to the capital market
and accompanies them in their international activities. "Our Corporate Sales
Team acts as a dedicated solutions provider in the risk management of our
clients such as Dutch multinationals and subsidiaries of German groups," said
Mireille Meens, Head of Corporate Sales Western Europe in Commerzbank
Corporates & Markets. "We service transactional hedging requirements in the
FX, interest rate, and commodities management on a day-to-day basis."
The overall context of international business gets more complex every day,
with more regulatory changes imposed to the corporates, too. The corporate
sales team focusses on assisting Commerzbank's clients with a holistic
approach of risks analysis and by delivering tailor-made solutions. The
Corporate Solutions group offers independent and product neutral consultation,
starting with the identification and measurement of the global risks and
designing the most appropriate solutions considering the risks-rewards and the
corporate's hedging strategy. For example, Commerzbank has been working on
cross-border acquisition financings, with specific focus on the optimal
currency and duration risk profile, such as Asset Liability Management (ALM)
that was carried out in cooperation with various Investment Banking experts
from Corporate Finance, Loan and Rating Advisory. In other cases, the Bank has
been working with corporate treasurers to present interest rate policy coping
with business cyclicality and leverage. On another extreme, Commerzbank helped
companies to manage exposures they have on equity - either related to
employees' stock option plans or dilution derived from acquisition.
Through the cooperation between the two segments Mittelstandsbank and
Corporates & Markets (CM), the investment banking arm of Commerzbank, clients
have a one-stop shop for all financial services and products. Corporates &
Markets can assist clients, both Corporates and Institutionals, with access to
the capital markets, financing solutions, hedging and investment products, as
well as advisory services. CM also supports its clients with capital measures
(equity, debt, and hybrid instruments), handling the placement of the related
securities and secondary market trading, mergers and acquisitions, as well as
hedging instruments and investment strategies across all asset classes.
Commerzbank is a leading bank in Germany and Poland. It is also present
worldwide in all markets for its customers as a partner to the business world.
With the business areas Private Customers, Mittelstandsbank, Corporates &
Markets and Central & Eastern Europe, it offers its private and corporate
clients as well as institutional investors the banking and capital market
services they need. With some 1,200 branches Commerzbank has one of the
densest branch networks among German private banks. In total, Commerzbank
boasts nearly 15 million private customers, as well as 1 million business and
corporate clients. In 2012, it generated revenues of just under EUR 10 billion
with approximately 56,000 employees on average.
This release contains statements concerning the expected future business of
Commerzbank, efficiency gains and expected synergies, expected growth
prospects and other opportunities for an increase in value of the company as
well as expected future net income per share, restructuring costs and other
financial developments and information. These forward-looking statements are
based on the management's current expectations, estimates and projections.
They are subject to a number of assumptions and involve known and unknown
risks, uncertainties and other factors that may cause actual results and
developments to differ materially from any future results and developments
expressed or implied by such forward-looking statements. Commerzbank has no
obligation to periodically update or release any revisions to the
forward-looking statements contained in this release to reflect events or
circumstances after the date of this release.
Press contact: Martin Halusa: +49-170-8528638Tim Seifert: +49-69-136-81771
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