Commerzbank was founded on 26 February 1870 on the initiative of Theodor Wille, a Hamburg international merchant.
Wille formed a committee of businessmen, merchant bankers and private bankers from Hamburg, Berlin, Frankfurt am Main and New York.
The new institution went by the name of Commerz-und Disconto-Bank in Hamburg. It was formed with their initial purpose being to finance trade in the Hamburg area.
The bank operated from the start as industrial banks, taking deposits, extending loans, underwriting new issues on the stock mallet and engaging in trade finance.
As a major bank, Commerzbank provided a mix of services that greatly facilitated the emergence of large scale industrial organization in Germany. This mix changed over tine in response to shifting needs and structures.
Commerzbank did not reach a leading position before its mergers with Mitteldeutsche Privat-Bank in 1920, and then with Mitteldeutsche Credit banks in 1929.
During Second World War, throughout what was Germany, including parts that were in 1945 ceded to Poland, Commerzbank had 300 branches.
By early 1980s, Commerzbank had branches in London, Paris, Madrid, Barcelona, Brussels and New York.
It was described as one of the Germany’s leading banks and the fifth largest banks in the world.
History of Commerzbank
