The German government plans to gradually reduce its 16.49% stake in Commerzbank, a move signifying the bank's strength after receiving 18.20 billion euros in capital aid during the 2008/09 financial crisis. Of this amount, 13.15 billion euros have been repaid.
With the bank now financially stable and having achieved its highest profit in 15 years at 2.2 billion euros in 2022, the government sees this as the 'beginning of the exit.' The sale of the shares is expected to be transparent and market-friendly, with decisions on further steps left to the steering committee.
Commerzbank's transformation under CEO Knof has led to a revenue increase of over 10% to 10.5 billion euros. The government's gradual disinvestment from Commerzbank comes after the bank violated anti-money laundering regulations, yet the government views the sale as a vote of confidence in the bank's and Germany's financial position.
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