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4-Traders Homepage  >  Equities  >  Xetra  >  Commerzbank    CBK   DE000CBK1001

COMMERZBANK (CBK)
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Commerzbank : HSBC Create Partnership for Securities Settlement Operations

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12/07/2017 | 10:50am CEST

By Alberto Delclaux

Commerzbank AG (CBK.XE) said Thursday that it was transferring its securities settlement operations to a newly-created joint venture with HSBC Transaction Services GmbH.

Commerzbank will have a 20% stake in the joint venture, which will begin operations in early 2020 and will go on for an initial period of 10 years.

The bank said Commerzbank's 4.0 strategy, which aims to digitalize the bank and cut costs, accounts for investments and expected medium-term savings.

"The strategic partnership with HSBC for securities settlement ties in with both these aims. In the future, we will be using HSBC's state-of-the-art securities platform and achieving clear cost benefits," said Commerzbank Chief Operating Officer Frank Annuscheit.

Write to Alberto Delclaux at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
HSBC HOLDINGS -0.30% 704.4 Delayed Quote.-7.84%
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Financials (€)
Sales 2018 8 781 M
EBIT 2018 1 600 M
Net income 2018 917 M
Debt 2018 -
Yield 2018 2,01%
P/E ratio 2018 11,67
P/E ratio 2019 9,53
Capi. / Sales 2018 1,20x
Capi. / Sales 2019 1,18x
Capitalization 10 534 M
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Technical analysis trends COMMERZBANK
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Mean consensus HOLD
Number of Analysts 26
Average target price 11,1 €
Spread / Average Target 31%
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Managers
NameTitle
Martin Zielke Chairman-Management Board
Stefan Schmittmann Chairman-Supervisory Board
Frank Annuscheit Chief Operating Officer
Stephan Engels Chief Financial Officer
Uwe Tschäge Vice Chairman-Supervisory Board
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