The CEO should know that Commerzbank has often disappointed.
(Photo: dpa)
Commerzbank is in a dilemma: the clearer the success of the restructuring becomes, the more attractive the institute becomes for a takeover by a European competitor. By this week at the latest, Germany’s second-largest private bank should have appeared again on the radar of potential buyers in Paris or Milan.
This is not only ensured by the surprisingly high profit in 2021, but above all by the optimistic outlook: Commerzbank is confident of making billions in profits this year and wants to distribute around a third of it to the shareholders.
These are big announcements from the still new CEO Manfred Knof. He should know that Commerzbank has often disappointed. Whenever you thought the bank was out of the woods, the next setback came – and the restructuring started all over again.
Back to the roots
The important thing now is that Commerzbank must not allow itself to be distracted: neither by takeover speculation – the federal government as the major shareholder will ultimately decide here anyway – nor by potentially tempting gambles on the capital markets.
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If Commerzbank concentrates on what it does best, the lending business with German SMEs, then – with rising interest rates and a great need for financing due to the “green” restructuring of the economy – it now has a historic opportunity to really turn the tide create.
A modern private customer business fits in with this: few branches, but with comprehensive consulting services. A sophisticated online presence that also appeals to young customers. And all that at fair prices, without constantly changing dumping conditions for new customers.
That may sound boring at first. But it would be a sustainable business model in every respect.
More: Consolidation in Europe’s banking sector is coming – first nationally, then internationally