Commerzbank demonstrates resilience in EBA stress test
- Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"
Commerzbank Aktiengesellschaft (CZB) Commerzbank demonstrates resilience in EBA stress test Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. - Stress effect of 502 basis points during adverse scenario - Scenario simulates massive stress in addition to real pandemic stress - Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"
The starting point for the stress test was the CET 1 ratio of 13.2% at the turn of 2020/21, which reflected not only the significant burdens resulting from the coronavirus crisis but also high expenses for the transformation of the Bank. In the baseline scenario of this year's EBA review, Commerzbank's CET 1 ratio is 13.3% in 2023. As of the end of March 2021, Commerzbank's actual CET 1 ratio was 13.4%, well above the minimum regulatory requirement. "The stress test result once again confirms Commerzbank's healthy risk profile. We've demonstrated our resilience in a very tough stress scenario despite a difficult starting point in the pandemic environment," said Marcus Chromik, Chief Risk Officer. "Commerzbank has comfortable liquidity and capital buffers. This gives us sufficient headroom for our transformation. Our customers can rely on us, and we've proved that during the coronavirus pandemic, which has been a very real stress test for almost a year and a half." The stress test assumed a static balance sheet and therefore did not take account of any current or future business strategies or management initiatives. It's also not a forecast of Commerzbank's profits. The results of the stress test feed into the Supervisory Review and Evaluation Process (SREP). Further information on EBA's publication of 30 July 2021 can be found at https://www.commerzbank.de/en/hauptnavigation/aktionaere/ir/stresstest.html. Press contact About Commerzbank Disclaimer and Forward-Looking Statement
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ISIN: | DE000CBK1001 |
Category Code: | MSCU |
TIDM: | CZB |
LEI Code: | 851WYGNLUQLFZBSYGB56 |
Sequence No.: | 118935 |
EQS News ID: | 1223174 |
End of Announcement | EQS News Service |
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