German lender Commerzbank AG remains hopeful it can avoid taking state funds as it seeks to plug a 5.3 billion euro ($6.9 billion) gap in its balance sheet, its chief executive told Reuters in an interview.
Germany's second-largest lender aims to meet the stringent capital standards by end June next year, "even if it may seem ambitious," CEO Martin Blessing said in an interview.
Commerzbank, which has a market value of around 6 billion euros, has been asked by the European Banking Authority (EBA) to outline plans by January 20 on how to find an extra 5.3 billion euros in capital by mid-2012.
"The government made it very clear and we have also made it clear that we are in regular talks with the government but we are not negotiating a state support package," he said in response to a question on whether the bank has been in discussions over possible state aid.
Formal talks about a state aid package can only move ahead once a proposal to create a new German rescue fund have been formalised.
Last week Germany unveiled a draft law to create such a rescue fund in 2012.
Commerzbank, which is 25 percent owned by the German state, said it would continue to lend in its home market of Germany, as well as in Poland, where its unit BRE Bank holds a No 3 spot in terms of assets.
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