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Germany's Commerzbank sells services unit to BNP

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(Globalpost/GlobalPost)

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.

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http://www.globalpost.com/dispatch/news/afp/130725/germanys-commerzbank-sells-services-unit-bnp