Arab Today, arab today commerzbank in €25bn capital increase
Last Updated : GMT 05:46:11
Arab Today, arab today
Arab Today, arab today

Commerzbank in €2.5bn capital increase

Arab Today, arab today

Arab Today, arab today Commerzbank in €2.5bn capital increase

Frankfurt - AFP

Commerzbank, Germany\'s second-biggest bank, said Wednesday that it will undertake a 2.5-billion-euro ($3.3-billion) capital hike to repay further chunks of a state bailout it received during the 2008-2009 financial crisis. \"Commerzbank is planning an early repayment in full\" of about 1.6 billion euros in so-called \"silent participations\" from the German bank bailout fund SoFFin and a further 750 million euros from insurance giant Allianz, the bank said in a statement. Silent participations are a form of debt under which creditors agree to forego voting rights in the company. In order to raise the funds needed for repayment, Commerzbank had decided to undertake a capital increase, which it would ask shareholders to approve at the annual general meeting of Commerzbank, originally set for May 22 but now being brought forward to April 19. Once the operation has been completed, SoFFin\'s shareholding in Commerzbank was expected to decrease from 25 percent plus one share to below 20 percent, the bank said. In 2008 and 2009, the state invested around 16.4 billion euros in Commerzbank as it struggled to integrate the distressed Dresdner Bank. Commerzbank has already repaid most of the money and \"with the announced repayment of the remaining 1.6 billion euros, the silent participations of the Federal Republic will be repaid in full,\" Commerzbank said. \"With the complete repayment of the silent participations of SoFFin we are repaying ahead of schedule all components of the state support over which we have influence,\" said chief executive Martin Blessing. \"The support of politicians and the taxpayer was very important for us during the financial crisis. For us the repayment of the silent participations and the reduction in the Federal Republic\'s stake marks the beginning of the end of the Federal Republic\'s engagement in Commerzbank,\" Blessing said. On the Frankfurt stock exchange, Commerzbank shares were the biggest losers in midday trading however, shedding 8.51 percent in a slightly softer overall market.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today commerzbank in €25bn capital increase Arab Today, arab today commerzbank in €25bn capital increase

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st female Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st female Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday