Commerzbank to grow its China corporate banking business

The German bank wants to grow its corporate banking business volume in China by one-fifth in 2011 and is basing its growth expectations on strong economic performance in Germany and China.

Germany’s Commerzbank says it is planning to increase its corporate banking business volume in China by one-fifth in 2011. That is more than twice as fast as the 8.2% at which the bank’s economists have predicted China’s economy will grow. The bank also expects its small and medium-size enterprise SME, or Mittelstandsbank business to grow by 10% per annum.

According to Michael Kotzbauer, regional board member of Asia at Commerzbank, there are three aspects...

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