Commerzbank: joint venture with BNP Paribas terminated.
(CercleFinance.com) - Commerzbank said its consumer financing joint venture with BNP Paribas had ended, with the German bank now considering the personal loans business as "an important growth area.
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Commerzbank reached an agreement with BNP Paribas Personal Finance over the split-off of the Munich-based unit, called "Commerz Finanz".
As a result, Commerzbank will take over the division's loan portfolio, which consists of about 300,000 customer contracts representing approximately 3.5 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
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Commerzbank reached an agreement with BNP Paribas Personal Finance over the split-off of the Munich-based unit, called "Commerz Finanz".
As a result, Commerzbank will take over the division's loan portfolio, which consists of about 300,000 customer contracts representing approximately 3.5 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.