Commerzbank May Need German State Capital Injection, Fitch Says
“Fitch expects any need for additional capital would be met mostly by the state,” the ratings company said in a statement today. Commerzbank’s 11 billion-euro ($15.1 billion) rights offering earlier this year “could dampen shareholder appetite for further equity increases,” Fitch said.
Commerzbank must raise 2.9 billion euros of capital by the middle of 2012, according to European Banking Authority estimates cited by Fitch. Armin Guhl, a Commerzbank spokesman in Frankfurt, declined to comment.
To contact the reporter on this story: Niklas Magnusson in Hamburg at firstname.lastname@example.org
To contact the editor responsible for this story: Angela Cullen at email@example.com