FRANKFURT—Commerzbank Chief Executive Manfred Knof on Feb. 3 finalized plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul that came a month after he took the reins of Germany’s No. 2 bank.
The bank also announced that it would post a net loss of nearly 2.9 billion euros ($3.5 billion) for 2020, compared with a profit of 585 million euros a year earlier.
