July 3, 2020 / 5:02 PM / a month ago

German govt committed to its involvement in Commerzbank - statement

BERLIN, July 3 (Reuters) - The German government is fully committed to its engagement with Commerzbank, the Finance Ministry said after the lender’s chief executive and the head of its supervisory board offered to resign after a difficult year for the bank.

“As the largest shareholder, the German Federation thanks (Chief Executive Martin) Zielke and (Supervisory Board Chair Stefan) Schmittmann for their services,” the ministry said in a statement.

“The Federation is fully committed to its engagement with Commerzbank,” it added. “Commerzbank plays a central role in the financing of small and medium businesses and exports.”

The German state owns almost 16% of Commerzbank. (Reporting by Thomas Escritt; Editing by Tom Sims)

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