SoFFin helped rescue ailing Commerzbank

In 2008 and 2009, SoFFin helped rescue ailing
Commerzbank with a silent participation of EUR
16.4bn. In addition, through SoFFin the government
acquired a stake of 25% plus one share in the bank at a
cost of EUR 1.8bn. On 31 May 2013, Commerzbank
acted on its strategic goals – by returning the last
remaining tranche of SoFFin’s silent participation,
thereby terminating the last tranche of state-aid other
than the direct shareholding in the bank. Due to the
issuance of new capital and the fall in the bank’s share
price the original shareholders of Commerzbank lost
most of their previous investment.

The timing of the
disposal of the remaining direct shareholding (17.2%) is
under continuous assessment and will occur once
conditions are judged suitable and a corresponding
decision has been taken. Since this decision lies not in
the hands of the bank, it is not subject of the bank’s
strategic plan.