Commerzbank's Chief Private and Business Clients Officer, Thomas Schaufler, predicts a future where consumers have fewer reasons to visit physical bank branches due to advancements in digital services. However, he acknowledges that some customers still prefer in-person banking. Despite reducing its branch network from around 1,000 to 400 locations within recent years, Commerzbank has managed to maintain a stable customer base of nearly eleven million private and business customers.
Frankfurt-based Commerzbank has embraced digital transformation, with over 50% of product sales in the bank's brand being completed digitally. The bank is also strengthening its omnichannel approach, with over 90% of customer contacts already being digital. Yet, branches remain an important sales channel, and Commerzbank plans to structurally strengthen its branch network by implementing an adjusted advisory model in the fourth quarter of 2025.
Schaufler emphasizes the importance of quality customer service across various channels, enabling customers to receive the same high standard of banking services at both physical and digital touchpoints. The bank also aims to free up more time for qualified customer advisory services at its locations and strengthen personal advice in its Private Banking and Wealth Management divisions.
Commerzbank has further cemented its digital focus with a strategic partnership with Visa, enhancing its payment offerings through the issuance of Visa debit and credit cards, making shopping abroad and online easier for customers. By balancing digital transformation with the importance of maintaining a strong branch network, Commerzbank seeks to remain competitive and attractive to both customers and investors.
[1] According to Commerzbank's Head of Private Clients, Thomas Schaufler, as reported by the German Press Agency. [2] As enrichment data indicates. [3] This information is derived from the original base article. [4] Sources include 'www.stern.de' and Commerzbank's enrichment data.
