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May 27, 2013

Commerzbank shows solid growth in its corporate client business in China

  • Survey results: European corporates have no choice but to invest outside the euro zone
  • ETF market making offering in Hong Kong launched
  • New employees at all six locations in Asia

Commerzbank achieved considerable growth in its corporate client business in China in 2012, and expects to make further gains in 2013. This growth trend has been confirmed by a recent survey among German companies, as the vast majority of corporates comment that they have to invest outside the euro zone. 

As in previous years, Commerzbank was able to increase the number of new clients in Asia by 25 per cent. The Mittelstandsbank could increase its revenues generated with corporate clients by 25 per cent in 2012 and earnings in Corporate Banking in this country increased by over 25 per cent. “Growth in Commerzbank’s corporate client business in China is higher than in the whole of Asia”, said Edith Weymayr, who was named Regional Board Member for Commerzbank’s corporate client business in Asia early 2013, at a press conference in Beijing on Monday. In the past months, Commerzbank has further expanded its presence in the region, with a cooperation being signed with Kasikornbank in Thailand and a representative office opened in Bangladesh. New employees have been hired in all Commerzbank branches in Asia. 

As part of Commerzbank’s study “Perspectives from German Corporates”, which was published for the 13th time, an additional survey was conducted for the first time in major overseas locations such as China. The study suggests that 88 per cent of companies are convinced that the German economy has to prepare itself for growth limits and that the expansion of foreign trade outside the euro zone is essential. China is already in fourth place in terms of the most important sales markets for German SMEs. “Made in Germany” continues to be well regarded  in China, but this is no longer playing the decisive role: Clients from China also emphasise a great significance to a German company controlling the production process and guaranteeing the quality (“Managed in Germany”). According to the survey’s respondees the specific challenges of the Chinese market are, for example, the high service and advisory requirements of Chinese clients, as well as the long term management of competitive prices. 

Asia – and above all China – is the most significant market after Western Europe for the corporate client business of Commerzbank. In China, where Commerzbank has been present for 30 years, the Bank advises German SME clients doing business in China and also advises Chinese companies looking to do business in Germany. “Since the beginning of the year we have made further investments in Asia, and especially here in China, with the recruitment of new employees in all six branches,” says Edith Weymayr. In China, Commerzbank has locations in Beijing, Shanghai, Hong Kong and Tianjin. The Bank is also represented through branches in Tokyo and Singapore.

"Corporates & Markets, Commerzbank's investment banking business, has built a successful gateway between Asia and the European markets for its clients. In the first quarter of 2013, it started offering market making for ETFs in Hong Kong building on its strong European expertise in this area. We are also seeing increased client demand in the RMB bond market. Many of our German corporate clients are active in China and plan to use the local market for refinancing. With our RMB bond offering, we are well positioned to provide our corporate clients with access to the local market." said Nick Johnston, Head of Corporates & Markets in Asia. 

In recent years Commerzbank has been able to intensify its traditional business relationships with clients in China through loans, liquidity management, and payment transactions, as well as the processing of foreign trade. Moreover, the close cooperation of the corporate client business with Corporates & Markets (C&M), the investment banking arm of Commerzbank, ensures companies’ direct access to the capital markets and supports clients in their international activities. In China, Commerzbank has a strong position and offers clients a wide range of hedging and investment products across asset classes. Clients also have access to Corporates & Markets’ expert product knowledge in areas such as the placement of RMB bonds and advisory services on cross-border mergers and acquisitions (M&A). 

Commerzbank has been the market leader in Germany in business with small- and medium-sized enterprises (SME’s) for many years. Globally, the Bank is represented in 52 countries with some 60 sites for its clients. It is the market leader for Germany’s Mittelstand and major international companies looking to do business in Germany. Commerzbank has more than 5,000 corresponding banking relationships around the globe and is internationally in a leading position in this area

 

Ends

Press contact:

Martin Halusa: +49 170 8528638

Bettina Storck: +86 23855 9608

Claire Tappenden: +44 7824490353 

 

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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 clients 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, nearly 15 million private customers trust in Commerzbank, as well as 1 million business and corporate clients. In 2012, it generated revenues of just under EUR 10 billion with approximately 56,000 employees on average.

 

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Disclaimer

This release contains statements concerning the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of the company as well as expected future net income per share, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Commerzbank has no obligation to periodically update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.

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