Commerzbank AG, a German lender rescued by taxpayers following the 2008 financial crisis, is “close” to a deal with European Union regulators to change the terms of the bailout that required it to sell its Eurohypo unit.
Commerzbank AG jumped the most in more than two months in Frankfurt after Germany’s second-largest lender said it’s more than halfway to its goal of raising capital, and can do so without asking for state aid.
ZAO Promsvyazbank’s largest shareholders, Alexei and Dmitry Ananyev, plan to buy an additional 14.4 percent stake from Commerzbank AG by June, Vedomosti reported, citing the Russian lender’s president Artem Konstandian.
A 45 percent drop in UniCredit SpA shares over four days after Italy’s biggest bank announced a rights offer may deter European lenders from asking investors for help to meet requirements that they replenish capital.
Citigroup Inc.’s $285 million settlement with the U.S. Securities and Exchange Commission over mortgage-backed securities was rejected by a federal judge who said he hadn’t been given enough facts to approve it.