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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 CET

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]

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Financials (€)
Sales 2017 8 862 M
EBIT 2017 1 603 M
Net income 2017 150 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 88,58
P/E ratio 2018 17,93
Capi. / Sales 2017 1,80x
Capi. / Sales 2018 1,81x
Capitalization 15 974 M
Chart COMMERZBANK
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Commerzbank Technical Analysis Chart | CBK | DE000CBK1001 | 4-Traders
Technical analysis trends COMMERZBANK
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 24
Average target price 10,6 €
Spread / Average Target -17%
EPS Revisions
Managers
NameTitle
Martin Zielke Chief Executive Officer
Klaus-Peter Müller Chairman-Supervisory Board
Frank Annuscheit Chief Operating Officer
Stephan Engels Chief Financial Officer
Uwe Tschäge Deputy Chairman-Supervisory Board
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