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Deutsche Schiffsbank to Curtail Customer Relationships, FTD Says

Commerzbank AG (CBK)’s Deutsche Schiffsbank unit plans to limit business relationships to customers deemed strategically important, Financial Times Deutschland reported in a preview of an article to be published tomorrow.

The bank’s shipping finance book will therefore become smaller, FTD reported, citing an interview with Stefan Otto, a spokesman for the board. Schiffsbank’s integration into Commerzbank should be completed this quarter, the newspaper said.

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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