The bank will also include investment banking and transactional services for financial institutions.
With its Chinese branches, Commerzbank targets on subsidiaries of German companies on the one hand, and Chinese companies represented by subsidiaries on the other. The product portfolio offered by the new branch ranges from account management and payment transactions to foreign exchange hedging and individual financing offers.
Until now, Commerzbank has only had a representative office in Beijing. Currently, the bank has a total of four branches. In addition to the Beijing office, Commerzbank in China has branches in Hong Kong, Tianjin and Shanghai.
Moreover, at each of these locations, Commerzbank has placed a German Desk to supports German SMEs abroad, and local support teams who accompany foreign customers on their way to Germany.
Bernd Laber, head of international segment for SMEs at Commerzbank, said: “With the expansion of the range of services and products offered in Beijing, Commerzbank emphasizes its claim that it is the leading bank for internationally active SMEs.
“We are supporting companies in this important step. For successful involvement in Asia, it is vital for small and medium-sized enterprises to prudently balance opportunities and risks. Similarly, we want to be a partner of local Chinese companies in this region who conduct business in Germany. In addition, we offer these companies the biggest network of branches in Germany.”
