The supervisory board of Germany's Commerzbank will meet on Friday to discuss measures to meet stricter capital requirements and to appoint a new finance chief, a source familiar with the agenda told Reuters on Sunday.

Germany's second-biggest lender could need around 5 billion euros (£4.3 billion) instead of the 2.9 billion euros previously expected, should the European Banking Authority (EBA) proceed with plans to tighten the capital requirements it wants to impose on banks to withstand the euro zone sovereign debt crisis, Reuters reported last week.

Current CFO Eric Strutz is leaving at the end of March and so the new finance chief will have to carry out the measures needed to meet these demands.

Commerzbank has found an external candidate to replace him, but the contract is not yet signed, the source said.

German papers Frankfurter Allgemeine Sonntagszeitung and Handelsblatt had also reported the new finance chief will come from outside the company, surprising observers who had reckoned on an internal candidate.

(Reporting by Alexander Huebner; writing by Victoria Bryan; Editing by Philipp Halstrick and Maureen Bavdek)