MAINZ (Dow Jones) – Commerzbank AG sees consolidation pressure in Privatkundensegement. "Keep the pressure on margins to, "said Achim Kassow Retail Management at the "Handelsblatt" Annual Meeting of retail business on Wednesday in Mainz. At the same time increases the pressure on costs.
Therefore, the question is how long will the current market structure is remain conceptually less answer, but with a purely managerial logic: Continuous Growth is at constant number of customers simply not possible, he said.
The partly nationalized Commerzbank had in the past year struggling with high costs for Dresdner Bank, which clearly billion had been contributed to the loss. The integration costs for the Dresdner Bank had the "unsatisfactory" Results of Commerzbank with approximately EUR 1.9 billion charge, had Chairman Martin Blessing said at the announcement of the figures.
At exactly this adjustment screw, Commerzbank wants to rotate and Costs by reducing the use of synergies "significantly" as emphasized Kassow.
Website: www.commerzbank.de -From Madeleine Nissen, Dow Jones Newswires +49 (0) 69 - 29725 115, madeleine.nissen @ dowjones.com DJG / maw / has Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
March 17, 2010 07:00 ET (11:00 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.