search

November 04, 2013

Commerzbank completes contractual closing of its “Depotbank” business to BNP Paribas Securities Services

Commerzbank completed the contractual closing of the sale of its “Depotbank” business to BNP Paribas Securities Services on 31 October 2013. Hence, the transfer of the customer relationships and portfolios to BNP Paribas can begin on schedule. 

The “Depotbank” business offers services for investment companies (mutual and special funds in the securities and real estate sectors) and institutional investors, such as the settlement of securities transactions, the administration, and safekeeping of assets as well as the control of the fund administration. As already announced in July 2013 in the course of the signing of the sale and purchase agreement, the remaining custody business for customers of Commerzbank (“Depotgeschaeft”, e.g. depositary business for direct customer portfolios) which is part of Commerzbank’s core business is not affected by the deal. The custody business of Commerzbank provides a comprehensive custody capability for the Bank's private, business, and corporate customers as well as for institutional investors.

  

*****
About Commerzbank

Commerzbank is a leading bank in Germany and Poland. It is also present worldwide in all markets for its customers as a partner to the business world. With the business areas Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, it offers its private and corporate customers as well as institutional investors the banking and capital market services they need. With some 1,200 branches Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts nearly 15 million private customers, as well as 1 million business and corporate customers. In 2012, it generated revenues of just under EUR 10 billion with approximately 56,000 employees on average.

Top