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Interview: Commerzbank boss warns of increasing risk of inflation – 2022 will be a “challenging year” for his institute

Manfred Knof

The Commerzbank boss sees himself on course with the restructuring of the bank, but fears difficult framework conditions in 2022.

(Photo: Commerzbank AG Pavel Becker Pavel Becker / Commerzbank AG)

Frankfurt Commerzbank is preparing for headwinds in the next few months. “2022 will not only be a challenging year because of the corona crisis,” warns CEO Manfred Knof in an interview with the Handelsblatt. “Inflation is having a negative impact on many of our customers, especially the rise in energy and property prices.” In addition, as a result of the pandemic, there are still problems with the supply chains and major geopolitical risks.

Germany’s second-largest private bank, however, sees itself well prepared for impending loan defaults and also wants to take advantage of growth opportunities. “In the private customer segment, we will continue to expand the securities business and construction financing,” announced Knof. “We also expect very solid business with German SMEs, both in terms of granting loans and placing bonds.”

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Reference-www.handelsblatt.com

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