Commerzbank Pressed by ECB to Reduce Risks at Russian Business
- Lender among firms that have kept a sizable presence in Russia
- Commerzbank cut Russian net exposure by 60% since war started
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Commerzbank AG is among banks that have been told by their top supervisor to cut risk related to its business in Russia, where the German lender continues to have a sizable presence.
The European Central Bank urged the firm in recent months to set aside more money for potential losses incurred in the country, people familiar with the matter said, asking for anonymity in discussing internal information.