Commerzbank plans to boost share capital

GERMANY’S Commerzbank plans to ask shareholders for permission to boost its share capital by up to €2.46bn (£2.02bn) within the next five years in a bid to improve its capital structure.

The plans, published yesterday in its agenda for its AGM on 23 May, would enable it to redeem non-voting shares held by the German government and Allianz and convert them into hard equity.