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Bank to pay back government funding

Commerzbank AG says it will pay back much of the government aid it received at the height of the financial crisis.

Germany's second-biggest bank said it plans to reduce the current £14.1 billion "silent participation" of the government's financial-sector rescue fund by £12.5 billion by June.

It said £9.6 billion of the money will be raised from markets and through other financial operations, while £2.85 billion will be paid back from excess regulatory capital.

Commerzbank says, however, that the government bank rescue fund is maintaining its 25% holding.


From Belfast Telegraph