Bloomberg Commerzbank Chief Executive Officer (CEO) Manfred Knof is cutting management positions at Germany’s second-biggest listed bank by about 30% as part of his turnaround plans. The target is linked to an agreement with the company’s works council on how to implement deep job cuts which were first announced in February, the lender said in a statement. It didn’t say ...

Bloomberg The European Central Bank (ECB) could stop buying bonds as early as next September if inflation looks to have sustainably returned to the official target, Governing Council member Robert Holzmann said. Introduced in 2015, the bank’s asset purchase program, or APP, was designed to get consumer-price growth back to 2%, according to Holzmann, who heads Austria’s central bank and ...

Bloomberg ABN Amro Bank NV reported third-quarter profit that beat estimates as the Dutch lender released money it had stashed for doubtful loans and said it’s in talks with its regulator about buying back stock. The bank, based in Amsterdam, saw net income jump 14% from a year earlier to 343 million euros ($397 million). That was higher than the ...