September 30, 2008
Commerzbank is the first German bank to open a representative office in Libya
Commerzbank is the first German financial institution to open a representative office in the Libyan capital Tripoli, enabling a further expansion of the bank's network of outlets on the African continent.
The new representative office will commence operations shortly and will be headed up by Christophe Marie, who has acquired extensive knowledge on the specific economic and cultural characteristics of North Africa during the course of his many years of service with Commerzbank. As the bank’s representative, he will act as a contact partner for local banks as well as for international and German companies in Libya.
The Libyan economy is growing dynamically and developing into an increasingly attractive sales market for German investment goods and services. The Federal Republic of Germany is now Libya’s second most important import nation. "Both Libya and Germany firmly intend to strengthen their economic relations, and this is why Commerzbank is seeking to provide its export oriented SME customers with direct support at a local level", said Markus Beumer, Board Member with responsibility for the Mittelstandsbank.
With the establishment of this additional location Commerzbank is now represented worldwide in 46 countries. The past twelve months have already seen the opening of two new offices in Africa, in Ethiopia and Nigeria.
