Commerzbank

The Commerzbank Aktiengesellschaft (typically referred to as Commerzbank AG or simply Commerzbank [kɔˈmɛʁtsˌbaŋk]) is a European banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private, business and corporate customers. The Commerzbank Group also includes the Polish subsidiary mBank. One of the oldest banks in Germany, Commerzbank plays a significant role in the country's economy. It is the largest financier of German foreign trade, with strong ties to the German Mittelstand. It also has a presence in all major economic and financial centers worldwide. Since its establishment in 1870, Commerzbank has undergone several changes. In 1971, it became was the first German banking institution to open a branch in New York City. Another milestone was the acquisition of Dresdner Bank in 2009. During the 2008 financial crisis, the Federal Republic of Germany became a major shareholder in the bank. The government remains a significant shareholder, though Commerzbank is listed on the DAX. In the 2020s, the bank returned to profitability, thanks in part to substantial cost reductions and changes to its business model.