'Commerzbank is not on the agenda and that's it', Jean-Laurent Bonnafe told journalists at a media briefing when asked about buying either a stake or all of state-backed Commerzbank.
BNP Paribas, Italy's UniCredit and Switzerland's UBS have been mentioned as potential bidders for the 17% stake the German government holds in the country's second-biggest lender, possibly as a prelude to a full takeover. UniCredit and UBS have also said they are not interested.
Bonnafe said even bolt-on acquisitions, like recent purchases of Commerzbank's depositary business and HVB's real estate fund unit iii-investments, would remain the exception.
'We are going to grow organically', said Bonnafe as he gave details of plans to gain more of the market in Europe's biggest economy, first unveiled in July.
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