OREANDA-NEWS  In the first quarter of 2024, the German banking concern Commerzbank got rid of some of its assets related to Russia. The reduction of ties with businesses from the Russian Federation is stated in the organization's reports.

From January to March, Commerzbank's corporate loan portfolio in Russia decreased to 116 million euros (minus 22 percent compared to the previous quarter); investments in sovereign securities to 37 million euros (minus 37 percent). Pre—export financing has decreased 27 times since the beginning of the year, to 5 million euros, and interbank loans have fallen from 14 to 13 million euros.

According to the documentation, Russian-related assets halved from the end of 2023 to March 2024, from 344 to 171 million euros. In annual terms, the volume of these funds fell fourfold — from 645 million. At the same time, the Russian "daughter" of the German group continues to hold about 500 million euros in the Bank of Russia and on the Moscow Stock Exchange.

In April 2024, the Moscow Arbitration Court seized Commerzbank shares and JPMorgan assets. Interim measures in the form of the seizure of 100 percent of the shares of Commerzbank (Eurasia) JSC for funds in all bank accounts, except for type C accounts, type I accounts opened in the name of Commerzbank AG, J. P. Morgan SE and their Russian "daughters" were taken as part of the Transcapitalbank (TKB) lawsuit. Securities and real estate within the amount of the claims were also seized.