• 03 Dec 2013 at 5:49 PM
  • Banks

Commerzbank Is Entertaining Some Uninvited Guests Today

A couple hundred German tax officials from the state prosecutor’s office thought they’d have a look around the place. Read more »

  • 06 Nov 2013 at 4:39 PM
  • Banks

Layoffs Watch ’13: Commerzbank Board

The other Germans are bidding farewell to a couple of directors, to save a few euros. Read more »

  • 13 Mar 2013 at 4:39 PM

Commerzbank To Have Cake, Eat It, Too

Appreciative as it is for the €21 German taxpayers threw it, Commerzbank has had quite enough of living under the government’s thumb. So it’s going to finish paying back those taxpayer loans by conveniently diluting its shares such that the German government can’t tell it what to do anymore. Read more »

  • 08 Dec 2011 at 7:38 PM
  • Banks

CDOs To Buy European Bank Stocks And Other Silly Ideas

Someone hit F9 on the random number generator that decides how much capital European banks need and now it’s $115 billion, which I guess is more than it used to be, so that’s a thing. As you might imagine this is a problem because who in their right mind would buy equity of a European bank? Or, in diplomatic terms:

One analyst questioned [Commerzbank’s] ability to make up the deficit through shrinkage or other means. “It certainly seems hard for them to come back with another equity raise from the market, so if all else fails it looks like the government is the answer.”

But the bank insisted this was not part of its plan. Eric Strutz, finance director, said: “We stand by our intention not to make use of additional public funds.”

So that’s nice. But if you’d rather look at it in world-historical-demographic terms, it turns out you can. Because this little consulting outfit called McKinsey occasionally sends out musings to its friends and supporters, and today they’ve got a mammoth, slightly odd financial markets study, which the Journal has written about, concluding that nobody will buy stock anymore, especially from Commerzbank (though I may have just made that part up).

Read more »