Commerzbank has rebranded its Eurohypo division as Hypothekenbank Frankfurt.
The name change became effective on 31 August.
A statement from the German bank said that by abandoning the brand name Commerzbank meets one of the European Commission’s requirements from the winding-up order for Eurohypo.
It added: “Nothing has changed in terms of existing contractual relationships with our customers and business partners, and the execution of banking transactions.”
The division, which includes real estate, public finance and shipping and makes up around a third of Commerzbank’s $670bn balance sheet, is to be run off.
In June, Commerzbank announced that Eurohypo, which has a €56bn property loan book, would stop all new lending following an eight-month temporary lending freeze, which was set to be lifted in July.
No further announcement regarding the existing loan book has been made, but Commerzbank is scheduled to provide and update on the business on 8 November.
bridget.o’connell@estatesgazette.com
