Commerzbank will reduce c.10,000 full-time equivalents in gross terms.
Costs will be reduced by €1.4bn, or around 20%, by 2024.
Restructuring expenses totalling €1.8bn, which will be fully financed with existing funds.
Commerzbank targets a Return on Tangible Equity (RoTE) of 6.5-7% for FY2024.
29 Jan 2021
New restructuring programme draft with harsh staff cuts
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New restructuring programme draft with harsh staff cuts
Commerzbank will reduce c.10,000 full-time equivalents in gross terms.
Costs will be reduced by €1.4bn, or around 20%, by 2024.
Restructuring expenses totalling €1.8bn, which will be fully financed with existing funds.
Commerzbank targets a Return on Tangible Equity (RoTE) of 6.5-7% for FY2024.