FRANKFURT, March 15 (Reuters) – Commerzbank (CBKG.DE) Chief Govt Manfred Knof stated on Wednesday that the German lender was seeing an influx of deposits in a flight to high quality as markets reel.
Talking at a monetary discussion board as banking shares plummeted, Knof stated he anticipated extra inflows sooner or later.
Knof stated that the scenario in the US within the wake of Silicon Valley Financial institution’s demise was not corresponding to Europe.
Knof stated that Commerzbank’s regulator was “robust on us”, watching closing, and that liquidity was not a problem.
The financial institution’s shares have been down 8% late afternoon in Frankfurt.
Reporting by Tom Sims and Marta Orosz
Modifying by Miranda Murray and Rachel Extra
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