Sponsored Links:
Sponsored Links:
Reuters.
The logo of Germany's Commerzbank is pictured next to the bank's headquarters in Frankfurt.
Frankfurt - Germany's Commerzbank says it will raise e2.5 billion ($3.7 billlion) by issuing new shares and repay part of the government support it got when it was bailed out.
The country's No. 2 lender said Wednesday that the share issue would let it repay government holdings known as silent participations.
That will reduce the stake held by a government agency from 25 percent to 20 percent.
Commerzbank head Martin Blessing said the bank was repaying the state holdings over which it had control ahead of schedule.
Commerzbank needed government help during the financial crisis that followed the collapse of US investment bank Lehman Brothers in 2008.
It has since struggled with losses on government bonds and is winding down its ship finance and commercial real estate businesses. - Sapa-AP
) and select "Flag as inappropriate". Our moderators will take action if need be.
 |
 |
 |
 |
Services
Buying a car has never been easy. Motoring.co.za contains a large database of car listings with a user friendly search.
Start searching today »
Financial Tools
Business Directory
You are here: IOL / Business / International / Commerzbank to raise $3.7bn
We like to make your life easier
Mobile
Browse IOL on your phone at m.iol.co.za.
Newsletters
Subscribe to our newsletters. News delivered to your inbox!
