Arab Today, arab today commerzbank beefs up capital via share issue
Last Updated : GMT 16:22:08
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Arab Today, arab today

Commerzbank beefs up capital via share issue

Arab Today, arab today

Arab Today, arab today Commerzbank beefs up capital via share issue

Berlin - AFP

Commerzbank, Germany\'s second-biggest bank, said Monday it would beef up its core capital during the first half of this year by accepting various capital instruments in exchange for shares. Commerzbank said in a statement it would exchange 965 million euros ($1.3 billion) worth of hybrid capital instruments, subordinated debt securities and other capital instruments for 360.5 million new shares. The move would strengthen Commerzbank\'s core Tier 1 capital by 776 million during the first half of 2012, and by 1.2 billion euros in total through 2017, the statement said.

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