Frankfurt-based Commerzbank AG is weighing the closure of hundreds of branches as it figures out next steps after abandoning plans to merge with cross-town rival Deutsche Bank earlier this year, Handelsblatt reported, citing people familiar with the matter.  

The troubled lender currently has around 1,000 branches. But recession fears combined with a drop in share price and a shift to online banking has resulted in a need for change.

Commerzbank has put together a working group to study cost cutting measures, which may include closing anywhere from 100 to 200 of its branches. Results of the study are due out in October, sources said. 

As of press time, Commerzbank has not responded to a request for comments from ATM Marketplace.