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Commerzbank (CBK.XE) announced Wednesday it has concluded the integration of Deutsche Schiffsbank into its banking operations, effective May 22.
-Merger of Deutsche Schiffsbank AG with Commerzbank AG has been entered into the commercial register.
-Commerzbank receives authorization by Federal Financial Supervisory Authority to issue public sector covered bonds, or pfandbriefe, and ship pfandbriefe.
-Business area "Ship Finance" will be named "Deutsche Schiffsbank" and continued in the bank's "asset-based finance" segment.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500