In search of sources of funds to close budget gaps, the federal government is considering selling its shares. Its Time.
Shareholders can hardly complain about Commerzbank at the moment. It was once the problem child of the German banking market, and by 2023 the bank will have generated a profit of more than two billion euros. For years now, shareholders have had the prospect of a generous dividend again. CEO Manfred Knof hardly misses an opportunity to pat himself on the back. In fact, he trimmed the bank for returns with consistent austerity measures. What particularly helped was the increase in key interest rates, which brought the company high risk-free returns. Taxpayers also benefit from this, as the state has held a 15.6 percent stake in Commerzbank since the financial crisis. If the institute wants to distribute the majority of its profits to shareholders in the future, part of it will go indirectly into the state budget – at least as long as the state remains involved in Commerzbank.