Commerzbank to buy back its hybrid instruments

Commerzbank AG, the second biggest bank in Germany, offered to repurchase hybrid instruments valued at €600 m ($806 m) as it tries to meet capital requirements set by European Banking Authority. Martin Blessing, CEO of Commerzbank, said the bank may need to acquire around €2.94 bn to fulfil requirements. While the buyback of hybrid instruments will secure Tier 1 ratio, further fund raising will be necessary, said analysts familiar with the case.