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November 22, 2010

Commerzbank closes sale of CITS

Commerzbank has completed the sale of its subsidiary Commerzbank International Trust Singapore (CITS) to the Trident Trust Group, as announced. The regulatory authorities have approved the transaction. CITS specializes in fund management and trust services for private and corporate clients. As of the end of 2009 the company had assets under administration totaling EUR 930 million and employed seven people. Any other Singapore-based activities of Commerzbank remain unaffected by the transaction.


Press contact:
Simone Fuchs +49 69 136 44910


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About Commerzbank
Commerzbank is the leading bank for private and corporate clients in Germany. With the segments Private Clients, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a total of some 1,200 branches, Commerzbank has the densest network of branches among German private banks. It has above 60 sites in more than 50 countries and serves approximately 14 million private clients as well as 1 million business and corporate clients. In 2009, it posted gross revenues of EUR 10.9 billion with some 63,000 employees.

Contact

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pressestelle@ commerzbank.com

Phone:
+49(0)69-136-22830

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