‘No reason to panic’: Commerzbank CEO states loan providers are better organized to offer with financial loan defaults

‘No reason to panic’: Commerzbank CEO states loan providers are better organized to offer with financial loan defaults


Crucial Points
  • “The German economic climate is facing a tough time in advance of us thanks to the Ukraine conflict, China, source chain challenges and the power disaster,” Commerzbank CEO Manfred Knof advised CNBC on Thursday.
  • “Most likely the German overall economy is heading into a downward [trajectory] and possibly into a economic downturn but the excellent information is there no cause to worry,” he included.
  • Fears of a economic downturn have been exacerbated amid the likelihood of a winter gas scarcity in Europe.



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