REG-Commerzbank Aktiengesellschaft Commerzbank and Visa Agree on Strategic Partnership in Card Business

COMMERZBANK AGAnnouncement

13/02/2025 07:45

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank and Visa Agree on Strategic Partnership in Card Business

   13-Feb-2025 / 08:33 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Visa to become Commerzbank's preferred partner
     • Commerzbank customers to primarily receive Visa cards in the future
     • Private, business, and corporate clients of Commerzbank to benefit
       from future payment innovations

   Commerzbank and Visa have agreed on a strategic partnership in card
   business. The companies are expanding their existing successful
   cooperation in payments. In the future, Commerzbank customers will
   preferentially receive debit and credit cards of the global technology
   company Visa. The long-term agreement supports Commerzbank's strategic
   direction in payments and ensures the Bank’s access to future payment
   innovations. In a first step, Commerzbank's Girocards will be equipped
   with the Visa debit function. This will make shopping abroad and online
   even easier for the bank's customers.

   "We are very pleased to expand our partnership with Visa. Together, we
   will further develop our payment offerings as an important part of our
   growth trajectory," said Thomas Schaufler, Chief Private and Business
   Clients Officer of Commerzbank. "Our customers can look forward to a
   strong offering with worldwide acceptance, secure online payments, and
   easy integration into mobile wallets."

   "We are taking our collaboration with Commerzbank to a new level with this
   forward-looking strategic partnership. Together, we aim to shape the
   future of payments," said Albrecht Kiel, Regional Managing Director
   Central Europe at Visa. "To this end, we will leverage our global network,
   our innovative strength, and our expertise in cybersecurity. With two
   strong brands in the retail banking sector and its leading position in the
   German SME sector, Commerzbank is an outstanding partner in a key market
   for Visa."

   In retail banking, Commerzbank customers are expected to receive new Visa
   debit and credit cards starting in 2026. The combination of the
   Commerzbank and Visa brands aims to expand the marketing of account and
   card offerings for private customers. The partners have also agreed on
   close cooperation in payment security. Gradually, tailored products for
   business and corporate clients will also be offered.

   As part of the partnership, the Visa offering at comdirect will also be
   strengthened. Visa has been the preferred partner of Commerzbank's
   comdirect brand since 2020.

    

   Press contact Commerzbank
   Erik Nebel  +49 69 935 345 712

   Press contact Visa
   Dennis Bartel   +49 69 920 112 70

    

   About Commerzbank
   With its two business segments – Corporate Clients and Private and
   Small-Business Customers –, Commerzbank, as a full-service bank, offers a
   comprehensive portfolio of financial services. It is the leading bank for
   the German Mittelstand and a strong partner for around 24,000 corporate
   client groups. Commerzbank transacts approximately 30% of Germany’s
   foreign trade financing. The Bank is present internationally in more than
   40 countries in the corporate clients’ business – wherever its Mittelstand
   clients, large corporates, and institutional clients need it. In addition,
   Commerzbank supports its international clients with a business
   relationship to Germany, Austria, or Switzerland and companies operating
   in selected future-oriented industries. With more than €400 bn assets
   under management, Commerzbank is also one of the leading banks for private
   and small-business customers in Germany. Under the brand Commerzbank, it
   offers a wide range of products and services with an omni-channel
   approach: online and mobile, via phone or video in the remote advisory
   centre, and personally in its around 400 branches. Under the brand
   comdirect, it offers all core services as a digital primary bank 24/7 and,
   as a performance broker, solutions for saving, investing, and securities
   trading. Its Polish subsidiary mBank S.A. is an innovative digital bank
   that serves approximately 5.8 million private and corporate customers,
   predominantly in Poland, as well as in the Czech Republic and Slovakia.

   About Visa
   Visa (NYSE: V) is a world leader in digital payments, facilitating
   transactions between consumers, merchants, financial institutions and
   government entities across more than 200 countries and territories. Our
   mission is to connect the world through the most innovative, convenient,
   reliable and secure payments network, enabling individuals, businesses and
   economies to thrive. We believe that economies that include everyone
   everywhere, uplift everyone everywhere and see access as foundational to
   the future of money movement.

   Disclaimer
   This release contains forward-looking statements. Forward-looking
   statements are statements that are not historical facts. In this release,
   these statements concern inter alia the expected future business of
   Commerzbank, efficiency gains and expected synergies, expected growth
   prospects and other opportunities for an increase in value of Commerzbank
   as well as expected future financial results, restructuring costs and
   other financial developments and information. These forward-looking
   statements are based on the management’s current plans, expectations,
   estimates and projections. They are subject to a number of assumptions and
   involve known and unknown risks, uncertainties and other factors that may
   cause actual results and developments to differ materially from any future
   results and developments expressed or implied by such forward-looking
   statements. Such factors include, amongst others, the conditions in the
   financial markets in Germany, in Europe, in the USA and other regions from
   which Commerzbank derives a substantial portion of its revenues and in
   which Commerzbank holds a substantial portion of its assets, the
   development of asset prices and market volatility, especially due to the
   ongoing European debt crisis, potential defaults of borrowers or trading
   counterparties, the implementation of its strategic initiatives to improve
   its business model, the reliability of its risk management policies,
   procedures and methods, risks arising as a result of regulatory change and
   other risks. Forward-looking statements therefore speak only as of the
   date they are made. Commerzbank has no obligation to update or release any
   revisions to the forward-looking statements contained in this release to
   reflect events or circumstances after the date of this release.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  375938
   EQS News ID:   2085665


    
   End of Announcement EQS News Service

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