- (PLX AI) – Commerzbank stops project for outsourcing securities settlement and takes write-off of around EUR 200 million in Q2.
- • Stops project to outsource settlement to HSBC Transaction Services GmbH with immediate effect
- • The reasons for the decision are technical implementation risks and changed market conditions
- • Commerzbank cost target of €6.5 billion remains valid in operational terms, but expenses from write-off come in addition
- • Write-off doesn't impact CET1 capital