Concept

Commerzbank

Summary
Commerzbank AG (kɔˈmɛʁt͡sbaŋk aːˌɡeː) is a global German universal bank headquartered in Frankfurt. The bank was founded in Hamburg in 1870 and is today among the largest credit institutions in Germany, with total assets of €534 billion as of the end of September 2022. With over 15 percent ownership, the Government of Germany is the bank's biggest shareholder. As of 2018, Commerzbank was present in more than 50 countries around the world and provided almost a third of Germany's trade finance. In 2017, it served 13 million customers in Germany and 5 million customers in Central and Eastern Europe. The Commerz- und Disconto-Bank in Hamburg was born with the establishment of its founding committee on in Hamburg, at the initiative of merchant Theodor Wille. The banking houses of Mendelssohn & Co., M. M. Warburg & Co., Hesse Newman and B.H. Goldschmidt were among the founding investors. In 1873, the bank sponsored the creation of an affiliate in London, the London and Hanseatic Bank, of which it subscribed about half of the shares. By 1891, it had become the largest bank in Hamburg by total lending. It participated in the rapid industrial and commercial development of the German Empire by providing trade finance, credit to small businesses, and investments in various industries that included shipping, electricity generation, mining, chemistry, and manufacturing. It was also involved in sovereign financing, and in 1901 joined the Reichsanleihe-Konsortium, a group of several dozen banks that placed loans for the German imperial government. In 1881, the Commerz- and Disconto-Bank was among the founders of Nationalbank für Deutschland in Berlin, together with Anglo-Austrian Bank, Vienna's newly established Länderbank, the latter's affiliate Ungarische Landesbank, and Breslauer Disconto-Bank Friedenthal & Co. In 1897, it acquired the Jacques Dreyfus & Co. banking house (est. 1868 as Dreyfus-Jeidels) in Frankfurt, which also had a branch in Berlin, and consequently shortened its name to Commerz- und Disconto-Bank in 1898.
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