COMMERZBANK AG — A Bank That Has Survived Wars, Crises, and Eras of Change

In today’s Strifor review, we will talk about one of the oldest companies still in existence. Today, it turns 155 years old. Since its foundation, this bank has gone through two world wars, global financial crises, and the digital technology revolution, remaining one of the key players in the European financial market.

This makes Commerzbank not just a bank but a mirror of Germany’s economic history. Its ups and downs are closely linked to major events that have changed the world. How did it become one of Germany’s most influential banks? What challenges has it faced? And what makes it special today?

Company History

Early Years

On February 26, 1870, a new bank was founded in the port city of Hamburg, with the main goal of serving international trade. The second half of the 19th century was an era of rapid economic growth, and Germany, which had just unified into a single country, needed strong financial institutions.

The bank’s founders were Conrad Hinrich Donner, Carl Georg Heise, and Max Warburg — influential entrepreneurs and financiers. They set an ambitious goal: to make Commerzbank the main financial partner for industrialists and merchants.

World War I and World War II

By the beginning of the 20th century, the bank had expanded its operations, opening branches across Germany, and later in London, Vienna, and Shanghai. However, in 1914, World War I broke out, and the German economy faced enormous difficulties. Commerzbank, like other banks, found itself in a crisis.

After the war, Germany plunged into hyperinflation — in 1923, prices doubled every three days, and people paid for bread with wheelbarrows full of money. Despite these difficult times, the bank survived and even expanded by merging with several regional banks.

During the interwar period, the bank continued to develop, but World War II once again brought destruction and uncertainty.

Post-War Period

After the end of World War II, the bank was split into three independent institutions by the Allied forces. However, in 1958, it was restored as a single entity, and its headquarters were moved to Frankfurt am Main. This period marked the beginning of a new era of growth — Germany’s «economic miracle» of the 1950s–1960s brought stability and expansion to Commerzbank.

After the war, in 1958, Commerzbank’s headquarters were moved to Frankfurt am Main, symbolizing a new stage in the bank’s history. In the post-war decades, Commerzbank actively participated in the rebuilding and development of West Germany’s economy, providing loans and financial services to both large corporations and small businesses.

In 1970, for its 100th anniversary, Commerzbank conducted an IPO, listing its shares on the Frankfurt Stock Exchange. This helped the bank attract investments and accelerate growth.

By the 1980s, it became one of the first banks in Germany to introduce electronic banking — for example, remote access systems for corporate clients. Full-fledged online banking platforms for retail customers started developing in the 1990s, with the rise of the internet.

Commerzbank AG in the 21st Century

In the 21st century, Commerzbank continues to adapt to the dynamic changes in the financial sector, facing new challenges and implementing significant transformations.

The 2008 Financial Crisis and Its Consequences

In 2008, Commerzbank acquired Dresdner Bank for €5.5 billion, making it one of the largest deals in Germany’s banking sector. However, global financial instability led to significant losses, and in 2009, the bank received €18 billion in state support, giving the government a stake in the bank’s capital.

Financial Performance and Strategic Initiatives

Continuing to reflect economic realities, the bank has recorded two contrasting financial results over the past five years:

• In 2020, Commerzbank reported a net loss of €2.87 billion, with revenue of €8.19 billion.
• In 2024, the bank achieved a record net profit of €2.7 billion — 20% more than the previous year.

Restructuring and Strategic Changes

Mergers with Other Banks

In 2018, Commerzbank began negotiations on a possible merger with Deutsche Bank, but in April 2019, both parties abandoned these plans due to potential risks and restructuring costs.

In September 2024, the Italian bank UniCredit acquired a 9% stake in Commerzbank, sparking discussions about a potential merger. Commerzbank’s management, including CEO Manfred Knof, aims to preserve the bank’s independence, despite interest from UniCredit.

Workforce Reduction and Centralization

In February 2025, Commerzbank announced plans to cut 3,900 jobs by 2028, primarily in central and administrative divisions in Germany. At the same time, the bank intends to increase staff in its international branches and subsidiaries, such as mBank.

Also in February 2025, the bank signed a 15-year lease for a new high-rise office in Frankfurt, planning to consolidate employees by 2028. The new office will offer 73,000 square meters of space across 52 floors for 3,200 employees, located near the main headquarters.

Changes in Customer Service

From May 2025, Commerzbank will stop offering free current accounts. Previously, such accounts were free for customers with a monthly deposit of at least €700; now, a minimum fee of €4.90 per month will apply. An exception will be made for students and schoolchildren. Free accounts will still be available through the subsidiary Comdirect, under certain conditions.

Conclusion

Today, more than 155 years after its foundation, Commerzbank continues to play a key role in the financial system of Germany and Europe. With over 49,000 employees, serving approximately 11 million private clients and 70,000 corporate clients in nearly 50 countries, the bank remains a major partner for businesses and individuals.

Commerzbank is an example of a bank that has survived wars, hyperinflation, crises, and technological revolutions, yet remains a strong player. In 2025, it faces new challenges — digital transformation, increasing competition from fintech companies, and geopolitical instability. But if history has shown anything, it is that Commerzbank knows how to adapt to new eras.

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