Commerzbank has reached an agreement with BNP Paribas Personal Finance S.A. on the split-off of the business division holding the instalment loans brokered by Commerzbank from their Munich-based joint venture “Commerz Finanz GmbH”. The joint venture is being terminated with the split-off. An instalment loan portfolio of about 300,000 customer contracts with a volume of approximately € 3.5 billion is transferred from Commerz Finanz to Commerzbank in the framework of a partial transfer of business. The transaction is being implemented in close cooperation with the responsible supervisory authorities, effective 18 August 2017. It has been previously approved by the Federal Znejgh Kjwdsd.
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