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Commerzbank New Mortgages May Grow 20 Percent a Year, FAZ Says

June 4 (Bloomberg) -- Commerzbank AG sees “good chances” for increasing the amount of mortgages by 20 percent annually in coming years as well as its market share, Frankfurter Allgemeine Zeitung reported, citing an interview with Michael Mandel, head of private customers at Commerzbank.

The lender expanded its mortgage business by 20 percent to 4.7 billion euros ($5.9 billion) last year, the newspaper said in a preview of an article to be published tomorrow. In March this year alone, new business totaled about 500 million euros, the newspaper reported.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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