Commerzbank is streamlining its branch network even further.

After reducing the number of branches from 800 to the planned 450 within two years, the bank will only operate with 400 branches in the future.

According to information from the FAZ, this was “as good as decided” at the annual strategy meeting of the supervisory board and board of directors.

Hanno Mussler

Editor in Business.

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As can be heard, the Comdirect, which was completely bought by Commerzbank in November 2020 and taken off the stock exchange and according to the plans of former CEO Martin Zielke should almost completely disappear, is now even to be expanded.

In addition, a new location in North Africa is being examined for corporate customer business.

The number of smaller corporate customers who only use the bank digitally is expected to rise from 3,000 in the middle of the year to 6,000 by the end of 2022.

So far, Comdirect has only brokered loans

Although the Comdirect is only a Commerzbank brand, it is a very strong one, especially in online banking.

Commerzbank now wants to leverage this brand potential after all.

There should be two apps for accessing the bank via smartphones - a Commerzbank app and a Comdirect app.

Heavily invested in the Comdirect app, for example, better payment options could be considered, said a bank expert in the FAZ.

It would be conceivable that in the future she herself would grant construction financing online.

So far, the Comdirect is known primarily for the securities business.

This strategic fine-tuning comes at a time when Commerzbank, after shedding 10,000 employees (jobs), is now hardly able to find staff for its branches.

Many of the 50 branches that the bank also wants to do without in the future have not been opened at all since the corona lockdowns.

In downtown Frankfurt, the nationwide halving of the branch network is noticeable insofar as Commerzbank also dismantles the ATMs when branches are closed.

At times, queues of customers were observed in front of one of the few remaining locations.

By the end of November, Commerzbank intends to put twelve new advice centers into operation.

In contrast to call centers and chat robots, “real” advice should actually take place in these centers – even on Saturdays.

Customers have the choice of contacting this new channel by phone, email or video.

The advisory centers are to take on tasks that branches have previously carried out.

Commerzbank expects cost savings from this.