The German Ministry of Finance, as the largest shareholder, thanked the outgoing CEO for his work so far and then confirmed their commitment to working with the bank. They added that Commerzbank plays a key role in lending to small and medium-sized businesses.
The German state has a 16% stake in the bank.
The bank’s CEO, Martin Zielke, announced his resignation on Friday to allow room for the bank to renew. The bank was under pressure from investors due to its weak financial performance.
The bank can formally accept Zielke’s resignation on July 8th. (Reuters)
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