...Weak Profitability, Stable Asset Quality: Commerzbank AG's (CBK) Issuer Default Ratings (IDRs) and Viability Rating (VR) reflect progress in the bank's transformation process accompanied by weak profitability, but stable asset quality, improving capitalisation as well as solid funding and liquidity. Bank Restructuring Progressing: The execution of CBK's strategic transformation (Commerzbank 4.0) to simplify its business model and make it more efficient, notably by automating 80% of its processes by 2020, is on track. A binding agreement with its employee representatives has been reached, paving the way for reaching its target of reducing staffing levels by 7,300. Solid Customer Growth: CBK's strategic plan focuses on customer growth as the basis for revenue growth. The bank added 385,000 net customers in its private and small business customer (PSBC) segment in 1H17, approaching its target of 500,000 for 2017. About 100,000 customers were added by the acquisition of Onvista ¡ a German online...
