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 driving the bank’s growth ambitions in China. “From a macro point of view, we are building on the strong economic performance of China and Germany as the main growth drivers in their respective economic regions,”...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222