Commerzbank is planning new pricing models in private customer business

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Commerzbank headquarters in Frankfurt

In the future, the bank wants to do without advertising for new customers with starting credit.

(Foto: Bloomberg)

Frankfurt After just six weeks at Germany’s second largest private bank, Manfred Knof caused a paradigm shift. “Growth at any price is no longer an option for Commerzbank,” said the new CEO when presenting his restructuring plans. “Profitability comes first.”

Knof therefore wants to cut 10,000 full-time positions worldwide in the next four years and close 340 branches in Germany.

 The  foreign and capital market business will be evaporated. “Commerzbank needs a profound restructuring and transformation,” emphasizes Knof.

© www.de24.news

 The  new pace will also be felt by the eleven million private customers. © www.de24.news

 The  days when the institute used credit to attract new customers should be over. “That is a thing of the past,” said Knof. He also indicated that the bank could pass negative interest rates on to private customers on a larger scale. Currently this only happens to new customers with a credit of 100,000 euros or more.

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https://www.handelsblatt.com/finanzen/anlagestrategie/trends/analyse-was-die-neue-strategie-der-commerzbank-fuer-privatkunden-bedeutet-/26907414.html?ticket=ST-4507541-id0UdYaONfq1cHhWuaG5-ap2

Commerzbank planning pricing models private customer business

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