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Abstract: Commerzbank, Germany’s second largest & listed universal bank, is in spotlight
of investors, outperforming its benchmark YTD, and evidencing high trading volumes in
2022. The bank benefits from increasing interest rates on a short-to-medium run, but an
overbanked market and high FinTech competition slows the growth of commission income
down. Based on various other assumptions and knowledge, Commerzbank will be
valuated with the flow to equity approach, multiples valuation as well as scenario and
sensitivity analysis providing price ranges and will offer recommendation based on all the
facts available.
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Equity research Commerzbank Valuation Flow-to-equity
