Commerzbank mulls branch closures as part of broader strategy review
Reuters
Published Aug 21, 2019 09:40AM ET
Commerzbank mulls branch closures as part of broader strategy review
FRANKFURT (Reuters) - German lender Commerzbank (DE:CBKG) is considering closing some bank branches as it figures out a way forward after its talks to merge with rival Deutsche Bank (DE:DBKGn) collapsed earlier this year, people familiar with the matter said on Wednesday.
The Frankfurt-based bank, which has maintained a broad network of branches as competitors retrenched to rely more on internet banking, is studying the closure of at least 100 or 200 of its 1,000 branches, the people said.
The Frankfurt-based bank is weighing the closures as part of a broader strategy review. The results are expected by October at the latest.
Commerzbank declined to comment.
Handelsblatt first reported the news.
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Written By: Reuters
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