Commerzbank coburg records strong growth

Commerzbank coburg grew last year in terms of both private and corporate customers. Market share in real estate financing and securities business also expanded. "In coburg, we increased the net number of private customers by 461 and the number of corporate customers by 166, said branch manager susanne blob at a press conference on wednesday. An excellent year in 2017", said stefan hock, head of corporate customers in coburg, also spoke. Blob and hock see one reason for the good business development, also of the entire group, in the further expansion of digitalization. "In two years, 80 percent of all banking processes are to be digitalized", according to susanne blob. On the other hand, the personal advisory service currently provided by 27 employees at the commerzbank branch in coburg is not neglected. "90 percent of customers want this."

Heiber's tip: invest instead of save

Another reason is the fee-free checking account "that is the basis for all customer relationships". The bank branch in coburg serves a total of 11,141 private and 1,268 corporate customers in the region. Lending business also boomed thanks to real estate financing. "For this, the new credit volume amounted to almost 53 million euros in the past year", said susanne blob, which represents an increase of 41 percent. For their branch, they put the volume of customer assets under management at 112 million euros (+ 7.5 percent). What is positive in real estate financing, the currently very low interest rates remain unsatisfactory for savers. According to commerzbank economists, this development will continue for at least two more years. "If you invest your money instead of saving it, you can increase your wealth now at a manageable risk", blob stated. Even with a conservative, i.E. Low-risk investment, a 3 percent return could be achieved. More than half of the customers were treated in this way "while 46 million euros are currently lying unpaid in our savings accounts. Inflation is reducing this asset".

In the corporate customer segment, commerzbank gained 24 new business partners in the region last year, most of them smes. Stefan hock, head of corporate customers: "with our expertise in interest rate, currency and commodity hedging as well as export financing, we have a competitive advantage in business with small and medium-sized enterprises, which we will further expand in the future. Adjusted for repayments, we recorded a 10 percent increase in the volume of loans in coburg alone. This puts the coburg branch above the national average."

Commerzbank has expanded its digital offering of many banking services and products, including for corporate customers. This way, account balances, payment approvals and credits could be handled and applied for online. "We are represented in 50 countries and can thus accompany our corporate customers in global competition wherever they need us", says stefan hock. In the strongly export-oriented upper franconian economy, commerzbank is a partner of "around 530 large to very large companies".

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