Commerzbank

Commerzbank is an integrated bank that handles commercial, financial, investment, and corporate banking operations. It works in a large number of countries around the world and is located among the four most important banks in Germany. It aims to position itself at the top in investment and financing banking at European level.

History

It has been one of the most important banks throughout history that has even survived the Second World War. A group of bankers and merchants founded it in 1870 in the city of Hamburg. At that time it was called Commerz- und Discontobank. During that time, other banks were created to take advantage of the bank’s elevation at that time. Several of these banks were disappearing over the years.

From 1880 to 1890, it was not part of the rapid growth of banking in Germany. That was because its direct competitors had an advantage in the markets of the European and American continent, having their headquarters in Berlin. Therefore, the bank moved its headquarters to Berlin in 1905 and quickly matched what they had already achieved in Hamburg. Between 1918 and 1945, the government required financing during the war of the largest banks at that time. That caused several banks to merge to achieve that goal. Commerz- und Discontobank joined Mittledeutsche Privatbank and Mittledeutsche Creditbank and subsequently changed its name to today.

After the Second World War, the new German government decided to divide momentarily in smaller institutions those banks that had invested in the efforts of the war. Commerzbank was dissolved in 3 small institutions until 1955. Years later it moved its headquarters to Düsseldorf and then to Frankfurt. In 1971, he was the first bank to establish a branch in New York. In the 80s, the bank was having economic problems, so it had to sell a 32% share in Kaufhof. Until today, it has been in charge of finding the best solutions and businesses to position itself among the most important banks.

Routing Number

It is a 9-digit number to identify the banking institution during a transaction. They are used to process invoices, transfers, and deposits. The Commerzbank route number is 026008044.

Number of Employees

The last census was conducted in September 2018, resulting in 49,174 employees.

Rating

It is to classify the banks that request money from the market and assess whether they are in the financial capacity to respond to that debt. To verify the quality of a bank, S&P, Moody’s and Fitch agencies are in charge of rating the bank.

Commerzbank has a rating of:

S&P Global = bbb+Moody’s = baa3Fitch = bbb+

bbb+ (S&P Global) = It means that it is at a medium level, but in a good situation.

baa3 (Moody’s) = It means that it has moderate credit risk.

bbb+ (Fitch) = It means that it has high solvency, but is exposed to significant changes.

Headquarters

Its headquarters are located in the Commerzbank Tower in the city of Frankfurt, Germany. Specifically, in the Kaiserplatz area.

Website

The bank’s website can be accessed through this address: https://www.commerzbank.com

Services

The bank offers four services:

1. Cash Services: It allows to choose the portfolio of products related to cash and compensation in euros so that international payments are the fastest, safest, and most confidential.

2. Trade Services: Commerzbank is the number one bank in operations carried out by exporters in the country, allowing the Letters of Credit to reach their destination in 24 hours.

3. Banking Products: The bank offers products to facilitate fundraising and reach different markets efficiently.

4. Market Products: Provides solutions to risks offering products such as raw material and precious materials to the market.