Commerzbank: A billion grave for the taxpayer

ten years ago Today joined the Federal government in the case of Commerzbank, to keep them from collapse. For the German taxpayer a Raven black day, because the Bank is still in crisis, their melted value.

Lothar Gries, boerse.ARD.de

in fact, the Commerzbank is like a barrel without a bottom. In the past year alone, the share price crashed by over 50 per cent, even had to descend into the second stock exchange League, the MDax. Even a few years ago, unthinkable disgrace for the almost 150-year-old house, but Commerzbank is one of the founding members of the Dax, the leading index of the German stock exchange. To him she had been a member uninterruptedly since then.

Now, therefore, the descent in the "district League", such as the market expert Robert Halver sneered. On the stock exchange, Commerzbank is rated by only 7.5 billion euros, a no brainer in comparison to Germany's most valuable company, SAP, that's 104 billion Euro of value. Shockingly little, even in comparison to European competitors, such as the French Bank BNP Paribas. The lost in the past year, while almost half of their value, but it is still 50 billion euros.

for More price information to SAP

In the crisis caught

But the decline of the share of the second largest German Bank is only logical. Because Commerzbank is not able to come out of the crisis, in which it is almost ten years ago slipped. Since then, she struggles with falling revenues and shrinking margins. Tens of thousands of employees have already lost their Job.

Short term no prospect of improvement. So the result is slumped in the third quarter of 2018 by almost half. This is high exceptional income, which had been achieved in the prior-year period, however, investor confidence remains battered.

Only a fifth left

The facts speak for themselves: Since November 2008, the taxpayers of the Commerzbank has made in several tranches of EUR 18.2 billion. At times, he had a quarter of its shares.

After several capital increases, in which the state participated, along melted its share today of 15.6 percent. For this he paid a total of EUR 5.1 billion. Not much of the money left. To this day, melted the value of the investment was just 1.2 billion euros - a Disaster.

for More course information to Commerzbank

Further course information, to Deutsche Bank

the Federal government is doing What?

Since it is only a small consolation that the Bank this year to its shareholders for the fiscal year of 2018, a modest dividend. 20 cents you will receive, just as much as 2015, as the money the house had paid for the first and so far only Time since the rescue by the state in the financial crisis in 2007/2008, its shareholders something. The Covenant separates as the largest single shareholder, in this Situation, its share is rather unlikely.

he Sold the stock at the current price, he makes losses in the billions. This should want to avoid, the Ministry of Finance. It is only the hope of improvement remains. In 2018, the Bank is likely to have made a tidy profit, after already in the first nine months, net profit of 752 million euros.

Waiting for the merger

Olaf Scholz (SPD), Federal Minister of Finance

but Above all, the German Finance Minister, Olaf Scholz, seems to rely on a merger of the Commerzbank and the German Bank. At a banking conference in Frankfurt, he lamented in the fall, it was not a Problem for the country, that the local banks "have the necessary size to accompany the company“. He believes that the fourth largest economy in the world requires at least a "strong, globally active financial institution".

The Argument of the Minister of Finance is not new. Ten years ago, already his then predecessor, Peer Steinbrück, had getrötet, the same Horn. The merger of Dresdner Bank and Commerzbank, he welcomed as a means of strengthening Germany as a financial centre. Finally, a second, internationally competitive home-generated in addition to the Deutsche Bank. For 9.8 billion euros, Commerzbank took over the Dresdner Bank from Allianz. This was on the first of September 2008. 14 days later, Lehman Brothers went bust and everything was different. Commerzbank had to be rescued with the help of the state before the collapse.

Two Ill create a Healthy

this Time the voices of those who warn against a hasty merger of the Commerzbank and the German Bank. Their main Argument: The merger of two Sick don't make automatically a Healthy. Because not only the Commerzbank is in trouble, the German Bank's ailing and is always obtained from the criminal activities of their investment bankers of the past. It is quite possible that the Federal government holds in the case of Commerzbank for the first time still. Thus, the taxpayer is not likely to see again his money so quickly.

source: boerse.ard.de

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