Government support, which includes a common equity stake of 25% plus one share. Sound market position in domestic corporate banking, supported by Germany's robust economy. Management's good progress in deleveraging and derisking the noncore commercial real estate, shipping, and public finance activities. High risk concentrations and the below-average credit performance of its commercial real estate loan portfolio. Credit and market risks from sizable wholesale lending and trading-related activities, which are vulnerable to renewed economic stress. Material challenges to renew the business model and generate stronger and sustainable earnings after exiting noncore business. Standard&Poor's Ratings Services' negative outlook on Germany-based Commerzbank AG indicates that the ratings on the bank will remain under pressure over the next 18-24 months. Commerzbank
