Germany's Commerzbank sells services unit to BNP

Germany's second-biggest bank, Commerzbank, said on Thursday it had agreed to sell its Depotbank investor services unit to BNP Paribas without naming a price, citing confidentiality on the contract details.

The unit with 80 staff offers services for investment companies and funds such as settling securities transactions and managing assets, with a volume of about 93 billion euros ($122 billion) in April, the bank said.