<PAGE>
EXHIBIT 23.2
We consent to the incorporation by reference in the Registration Statement on
Form S-8 (No. 333-xxxxx) pertaining to the Commerce Bancorp, Inc. 1997 Employee
Stock Option Plan, of our report dated January 28, 2000 with respect to the
consolidated financial statements of Commerce Bancorp, Inc. and Subsidiaries,
included in its Annual Report (Form 10-K) for the year ended December 31, 1999
filed with the Securities and Exchange Commission.
Ernst & Young LLP
Philadelphia, Pennsylvania
June 28, 2000