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Commerzbank seeing inflow of deposits and expects more, CEO says

Reuters
·1-min read
Commerzank re-enters DAX and executives ring opening bell at Frankfurt exchange

FRANKFURT (Reuters) - Commerzbank Chief Executive Manfred Knof said on Wednesday that the German lender was seeing an inflow of deposits in a flight to quality as markets reel.

Speaking at a financial forum as banking stocks plummeted, Knof said he expected more inflows in the future.

Knof said that the situation in the United States in the wake of Silicon Valley Bank's demise was not comparable to Europe.

Knof said that Commerzbank's regulator was "tough on us", watching closing, and that liquidity was not an issue.

The bank's shares were down 8% late afternoon in Frankfurt.

(Reporting by Tom Sims and Marta Orosz; Editing by Miranda Murray and Rachel More)

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