Commerzbank increased business in its target market in Switzerland, that is companies with annual turnover of more than 15 million Swiss francs ($15.8 million), and grew the number of business contacts by 230 to some 1,800, the bank said Wednesday.

The bank said its market share in this target segment grew to nudge 25 percent, maintaining the 7-year growth path achieved under the leadership of Marc Steinkat.

Healthy Start

The performance in the export finance business was especially successful, propelling Commerzbank Switzerland into the top-three among export financers. In the credit sector turnover rose 15 percent to 8.8 billion francs, while it gained 15 new mandates in the capital market business.

Commerzbank Schweiz, based in Zurich, and with offices in Bern, Basel, Lausanne, Luzern und St. Gallen, expects further growth in the coming year. «The first quarter went well, and so were are confidence on the rest of the year», said Steinkat.