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Dear Valued Client,
In today’s economy, change is never far from the top of the agenda. The green transition, the digital revolution, and the re-mapping of supply chains are only some of the major transformations affecting the world at an accelerated pace. Financial institutions and corporates alike are taking new, innovative routes to position themselves for future opportunities. We see this happening across the globe as business models, supply chains and energy sources are being diversified.
Our expertise and international network put Commerzbank in an ideal position to understand both the challenges and the opportunities resulting from these changes for our clients worldwide. In this issue, we place a spotlight on the economies of the Gulf Cooperation Council (GCC) nations and their varied approaches to economic diversification. As the region continues to experience significant and rapid transformation, we can see that realising the full potential of this emerging economic hub will require extensive infrastructure investment and significant financing.
Elsewhere, in the trade finance space, we observe how banks are re-thinking the way they offer trade finance services, adapting their operational processes to align with the new macroeconomic environment.
Adaptation and collaboration are also key when it comes to the funding of the sustainable transformation of the economy, as regulatory bodies, corporates, investors and banks are all required to come together to make this transition a reality.
We hope you find value in reading our latest edition of IN.sights.
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| | | | Trade Finance as a Service
Navigating the challenges facing the trade finance sector
Global trade continues to experience prolonged disruption, with financial institutions facing extreme regulatory and macroeconomic pressures. Christian Toben, Arne Graeber and Gerald Dannhaeuser discuss how banks of all sizes are adapting by re-thinking the way they offer trade finance.
Learn more ➔
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| | | | The Future of the GCC region
Funding economic diversification in an evolving landscape
Considerable change is underway across the GCC nations as the implementation of ambitious economic diversification plans gathers pace. We hear from Gerald Dannhaeuser, Mehtap Ak-Sisman, Nils Neudoerfer and Georges Bou Nemer about the challenges and opportunities this transformation is bringing.
Learn more ➔
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| | | | Green Transformation
Leveraging diversified financing tools to deliver a greener future
Banks and other financial institutions are becoming more creative, leveraging collaborative financing deals to overcome the immense capital requirements associated with handling the green transition. In a roundtable discussion, our experts examine how the financial industry is adapting and working together to deliver the necessary funding.
Learn more ➔
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| | | | Commerzbank in the News | |
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| | Commerzbank wins awards from Global Finance, IFC, and Euromoney
Commerzbank is delighted to be named “Best Bank in Germany” for the second time in a row by Global Finance. Commenting on the bank’s best results in 15 years, the leading industry publication heralded Commerzbank’s “dramatic turnaround story”. The bank also received Euromoney’s award for excellence as “Germany’s Best Bank for SMEs”, which is testament to the bank’s consistent commitment to providing top-quality client services.
Commerzbank has also been recognised for its trade finance expertise by Global Finance (“Best Trade Finance Provider”) and the International Finance Corporation (IFC) (“Outstanding GTFP Confirming Bank”).
Further recent award wins include Global Finance’s “Germany’s Best Sub-Custodian Bank” and “Germany’s Best Bank for Sustainable Finance”.
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| New representative offices open in Morocco and Jordan
In October 2023, Commerzbank announced the opening of two new representative offices in the MENA region. The bank’s new representative office in Casablanca, Morocco, will be its seventh on the African continent. As Commerzbank looks to support the growing volume of trade finance and payment business in Northwest Africa, the representative office will help the bank strengthen its strategic relationship with local banks.
Commerzbank sees clear opportunities in the region in the infrastructure and renewable energy sectors, partially with the benefit of export credit guarantees. Morocco is also increasingly serving as a base for corporate clients looking for a bridge to West Africa.
Supported by an existing office in Dubai, Commerzbank is already considered one of the major correspondent banks in the Middle East. With the opening of a representative office in Amman, Jordan, the bank will redouble its focus on a region which is becoming increasingly relevant as a trade corridor for the energy sector. Amman is also a gateway into neighbouring countries such as Iraq, where there is an important pipeline of infrastructure projects to be financed.
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| | Commerzbank launches strategic “X-Border Payments Initiative” (#XBPI)
Commerzbank is enhancing its payment platform to facilitate cross-border and high-value transactions. To achieve this, the bank is using the TRAVIC-Payment Hub developed by PPI, which is built based on native ISO 20022 formats. By the end of 2025, the bank plans to process all related payment messages in Germany using PPI’s TRAVIC-Payment Hub, adhering to the ISO 20022 standard. This update will enable Commerzbank to manage high-value payments via the TARGET 2 and EURO 1 systems, as well as cross-border payments via the SWIFT network.
Simone Loefgen, Commerzbank’s Global Head of Payment Platforms, said: “Commerzbank is one of the leading banks for German foreign trade and wants to retain its leading market position in cash management.” The future-proof PPI platform will make it easier to integrate new international payment products while also lowering maintenance costs and increasing efficiency.
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 | The bank at your side |
Important information:
The opinions and estimates contained herein have been done with due care and diligence and are true and correct to the best of our knowledge at the given time, and are subject to change without notice. This newsletter is for information purposes only. Commerzbank AG Institutional Clients & Transaction Banking Sales accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of or in any way connected with the use of all or any part of this newsletter.
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The services or information contained in this material are as of the date this material was prepared and are subject to change or be cancelled without notice. Always contact the sales representatives at Commerzbank AG Tokyo Branch for the latest information. Customers should use this information under their own judgment only after fully understanding details of the services and risks. Receiving the services in this material is not contingent upon receiving loans or purchasing other products/services from Commerzbank AG.
Singapore: This document is furnished in Singapore by Commerzbank AG, Singapore branch. It may only be received in Singapore by an institutional investor or an accredited investor as respectively defined in section 4A of the Securities and Futures Act, Chapter 289 of Singapore (“SFA”) pursuant to section 274 or section 275 (as applicable) of the SFA. Nothing in this document constitutes accounting, legal, regulatory, tax, financial or other advice and/or recommendations to the recipient of this communication. Further, the communication/information provided herein does not constitute a “financial advisory service” within the meaning of the Financial Advisers Act, Chapter 110 of Singapore (“FAA”) and therefore, the regulatory requirements and duties that may be owed to a client pursuant to or in connection with the FAA are not applicable to the recipient in connection with this communication. Recipients are advised to seek independent advice from their own professional advisers about the information contained discussed herein.
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US: This document has been created and published by the Corporate Clients division of Commerzbank AG, Frankfurt/Main or the group companies mentioned in the document ("Commerzbank").
This is a financial promotion/marketing communication (together “communication”). It is not “investment research” or “financial analysis” as these terms are defined in applicable regulations and has not been prepared by a research analyst. The views in this communication may differ from the published views of Commerzbank Corporates & Markets Research Department and the communication has been prepared separately of such department. This communication may contain short term trading ideas. Any returns or future expectations referred to are not intended to forecast or predict future events. Any prices provided herein (other than those that are identified as being historical) are indicative only, and do not represent firm quotes as to either size or price. This communication is for information purposes only. The descriptions of the products and ideas featured in this document do not purport to be comprehensive descriptions. The information contained herein does not constitute the provision of investment advice. It is not intended to be nor should it be construed as an offer or solicitation to acquire, or dispose of, any of the financial instruments and/or securities mentioned in this communication and will not form the basis or a part of any contract.
Potential counterparties/ distributors should review independently and/or obtain independent professional advice and draw their own conclusions regarding the suitability/appropriateness of any transaction including the economic benefit and risks and the legal, regulatory, credit, tax and accounting aspects in relation to their particular circumstances. Levels, bases and relief from taxation may change from time to time. Any information in this communication is based on data obtained from sources believed by Commerzbank to be reliable, but no representations, guarantees or warranties are made by Commerzbank with regard to the accuracy, completeness or suitability of the data. Commerzbank has not performed any independent review or due diligence of publicly available information regarding an unaffiliated referenced asset or index. The past performance of financial instruments is not indicative of future results. No assurance can be given that any financial instrument or issuer described herein would yield favourable investment results. This communication is intended solely for distribution to Professional Clients and/or Eligible Counterparties of Commerzbank. It is not intended to be distributed to Retail Clients or potential Retail Clients. Neither Commerzbank nor any of its respective directors, officers or employees accepts any responsibility or liability whatsoever for any expense, loss or damages arising out of or in any way connected with the use of all or any part of this communication.
Commerzbank and/or its principals or employees may have a long or short position or may transact in financial instrument(s) and/or securities referred to herein or may trade in such financial instruments with other customers on a principal basis. The information may have been discussed between various Commerzbank personnel and such personnel may have already acted on the basis of this information (including trading for Commerzbank’s own account or communication of the information to other customers of Commerzbank). Commerzbank may act as a market maker in the financial instruments or companies discussed herein and may also perform or seek to perform investment banking services for those companies. If an actual secondary market does not exist after an offering, you may not be able to sell the security at a price above or below what you paid initially at the offering. Generally secondary market pricing, which Commerzbank is not obligated to provide, can be above or below offer price based on market factors at that point in time. Debt securities issued by Commerzbank or its affiliates are unsecured obligations and any payment on the security is subject to the credit risk of the issuing entity. Any changes to our credit rating may have a positive or adverse impact on the security. If we were to default on our payment obligations, you may not receive amounts owed to you and or lose your entire investment.
The offer price of our securities will exceed the estimated value when the value was provided, as determined by Commerzbank’s pricing models, which incorporates numerous factors that may include our creditworthiness, market conditions as well as other applicable factors. These pricing models are proprietary and predicated partly on certain assumptions about future events that can be correct or not. The difference between the estimated value and offer price is based on factors that can include underwriter discount, commission and expenses involving marketing. No part of this communication may be reproduced, distributed or transmitted in any manner without prior written permission of Commerzbank. This communication or the manner of its distribution may be restricted by law or regulation in certain countries. Persons into whose possession this document may come are required to inform themselves about, and to observe any such restriction. By accepting this communication, a recipient hereof agrees to be bound by the foregoing limitations.
To the extent this communication is distributed in the United States, it must solely be sent to “institutional investors” and “major U.S. institutional investors,” as defined in Rule 15a-6 under the Securities Exchange Act of 1934. Any securities transaction by U.S. persons must be effected with Commerz Markets LLC (“CMLLC”), a wholly owned subsidiary of Commerzbank AG and a US registered broker-dealer. CMLLC is a member of FINRA and SIPC. Under applicable US law, information regarding clients of CMLLC may be distributed to other companies within Commerzbank. Banking services in the U.S. will be provided by Commerzbank AG, New York Branch. Any derivatives transaction with U.S. persons must be effected with Commerzbank AG, in accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Commerzbank AG is not a member of SIPC and is a provisionally registered swap dealer with the CFTC. Some products or services may be unavailable in the United States.
IMPRINT
Commerzbank Aktiengesellschaft (public limited company)
Office premises: Kaiserplatz, 60311 Frankfurt am Main
Postal address: 60261 Frankfurt am Main
Your contact for questions to the company:
Telephone: +49 (0)69 136-20
Email: info@commerzbank.com
Commerzbank website
Authorized representatives/board:
Manfred Knof (Chairman),
Michael Kotzbauer, Sabine Mlnarsky, Bettina Orlopp, Thomas Schaufler, Bernhard Spalt
Registration court:
Local Court Frankfurt am Main
Commercial register number: HRB 32000
VAT registration number:
DE–114 103 514
Supervisory authority responsible:
European Central Bank, Sonnemannstraße 20, 60314 Frankfurt/Main
Federal Financial Supervisory Authority, Graurheindorfer Straße 108, 53117 Bonn, Germany
and Marie-Curie-Straße 24–28, 60439 Frankfurt/Main, Germany
Bafin website
BAK-Nr. 100005
European online dispute resolution platform:
The European Commission has set up a European Online Dispute Resolution Platform (OS platform). A consumer may use the platform for the out-of-court settlement of a dispute arising from online contracts with a company established in the EU.
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