Commerzbank has confirmed it has abandoned plans to sell its Jupiter fund management division following the severe stock market downturn.

Commerzbank said earlier this year that it would sell Jupiter Asset Management, following the bank's decision to restructure its operations. Only last week the bank confirmed that Jupiter in the UK was still up for sale alongside Montgomery Asset Management in the US. But a continuing slump in equity markets led to a sharp decline in interest from would-be predators.