Commerzbank : Tears for fees; impact of the German Federal Court ruling decision on fees adds headwinds to an already challenging environment for revenues
Everybody wants to rule the world, but it was Germany’s Federal Court (Bundeshofsgericht, BHG) to rule on a case opposing a consumer association and Postbank (Deutsche Bank’s division). Unlike previous decisions from lower courts, BHG ruled late April that clauses allowing fee increases without customers’ explicit consent are invalid. Similar clauses are widespread in the sector (and others too), and the ruling is likely to affect most German retail banks. We take a look in this ...Commerzbank operates through five segments: Private Customers, which comprises the Private Customers, Direct Banking and Commerz Real divisions; Mittelstandsbank, which include the Mittelstand Germany, Corporate Banking & International and Financial Institutions divisions; Central and Eastern Europe, which consists of the universal and regional banking and direct banking activities; Corporates and Markets, which consists the Equity Markets & Commodities, Fixed Income & Currencies, Corporate Finance and Credit Portfolio Management divisions; as well as Non-Core Assets, which includes the operations of CRE Banking Germany, CRE Banking International, Public Finance and Deutsche Schiffsbank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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