Commerzbank

About Commerzbank

Founded in 1870 in Hamburg. Commerzbank merged with Mitteldeutsche Creditbank in 1920 and Dresdner Bank in 2009 after both banks suffered in the financial crisis. The German government acquired 25 percent of Commerzbank in the 2009 rescue and still holds the stake. Commerzbank has struggled with low profitability in the European banking sector. The bank announced major restructuring in 2024, cutting thousands of jobs and closing branches. Commerzbank attempted to merge with UniCredit in 2019, but the Italian bank withdrew. German banks generally have lower profitability than US banks due to regulation, competition from public sector banks, and economic structure. Commerzbank remains the second largest German bank after Deutsche Bank.