By MarketWatch
FRANKFURT--Germany's Commerzbank AG aims to expand its home construction financing by 20% annually within the next few years, board member Michael Mandel tells the daily Frankfurter Allgemeine Zeitung in Tuesday's edition.
In 2011, this segment jumped to EUR4.7 billion, up 20% from a year earlier.
"I see good chances of maintaining this kind of growth in the coming years, considerably increasing our market share," Mr. Mandel is quoted as saying.
In December, the bank began a cooperation with online credit agency Interhyp. This has been so successful that it will be extended to all 1,200 branches of the bank in August, the article says. With the agency, Commerzbank can also offer real estate financing products from external sources, receiving a fee from rival banks for delivering customers.
Newspaper website: www.faz.net
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