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Commerzbank CEO says no interest in buying Postbank
February 12, 2016 / 10:48 AM / 2 years ago

Commerzbank CEO says no interest in buying Postbank

FRANKFURT, Feb 12 (Reuters) - Commerzbank still does not see Postbank as an attractive takeover target, outgoing Chief Executive Martin Blessing said on Friday.

“Nothing has changed in my assessment,” he said at the lender’s annual press conference, referring to the asset that peer Deutsche Bank has earmarked for sale.

Blessing added he expects Commerzbank’s net profit to grow moderately over coming years as the currently low interest-rate environment does not allow for high returns.

He declined to say what he will do once he steps down as CEO by April.

“I am leaving with mixed feelings,” he said. “I feel like coach who’s saying goodbye to his team after many years of going through thick and thin with them.”

The time at the helm of Commerzbank has been like a roller-coaster ride, he added.

He cited 2011, when Commerzbank first felt good about returning a large chunk of state aid, before getting hammered in the Greek debt crisis and a European banking stress test and talk about a new bailout emerged. (Reporting by Arno Schuetze; Editing by Georgina Prodhan)

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