(Telestock) – The German government will exit the capital of Commerzbank graduallyThe sale will concern the share of 16.49% still in the hands of the federal government, held through the Financial Market Stabilization Fund (FMS). sale of shares – assures a note from the German Ministry of Finance – will be “transparent, non-discriminatory and market friendly”.
During the financial crisis of 2008 – It is recalled – Commerzbank ran into financial difficulties and, in 2008 and 2009, received aid for a total of 18.2 billion of euros from the Financial Market Stabilization Fund to maintain the stability of the financial market. To date, they have been 13.15 billion refunded of euros”.
Since Commerzbank has returned to profitability since 2021the German government has decided to sell the remaining share in the German Institute gradually.
“The reduction of the stake in Commerzbank – he says Florian ToncarUndersecretary of State at the Ministry of Finance – is a sign of strength of Commerzbank and the German financial center itself.”
“We are happy to say that stabilization was the right choice. The economic situation of the bank has steadily improved since 2021,” he emphasizes. Eva Grunwaldmember of the board of directors of the Finance Agency, adding “the commitment of the federal government during the financial crisis has prevented a domino effect with unpredictable consequences from a macroeconomic point of view”.