Germany’s second-largest lender Commerzbank has been pushed out of the country’s blue chip stock index by a small fintech firm called Wirecard. The trailblazing company has grown in leaps and bounds since being set up in 1999.
A Bavarian startup specializing in online payments nudges Germany's second-largest bank out of the country's DAX index. Analysts say it's the latest sign of fintech firms outshining traditional lenders.
Chinese conglomerate HNA looks set to sell off its remaining stake in Germany' largest lender, Deutsche Bank. HNA has been under mounting pressure to rethink investments in order to reduce its massive debts.
When a little-known online payments firm from a small German town called Aschheim overtakes Deutsche Bank in stock market value, people tend to take notice. What makes Wirecard tick?
Germany's most valuable financial services provider is probably not one you have heard of. But it just overtook Deutsche Bank and looks set to relegate Commerzbank from the DAX.
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