Commerzbank to grow its China corporate banking business

Germany’s Commerzbank says it is planning to increase its corporate banking business volume in China by one-fifth in 2011. That is more than twice as fast as the 8.2% at which the bank’s economists have predicted China’s economy will grow. The bank also expects its small and medium-size enterprise SME, or Mittelstandsbank business to grow by 10% per annum.

According to Michael Kotzbauer, regional board member of Asia at Commerzbank, there are three aspects driving the bank’s growth ambitions in China. “From a macro point of view, we are building on the strong economic performance of China and Germany as the main growth drivers in their respective economic regions,”...