Commerzbank

Commerzbank Aktiengesellschaft: ECB determines SREP P2R capital requirement for Commerzbank for 2024

Retrieved on: 
Thursday, December 14, 2023
Pillar, AT1, European Central Bank, Common equity, MDA, Commerzbank, Risk management, Central bank, Security (finance), Bank

In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has determined the bank-specific capital requirements for the Commerzbank Group in 2024.

Key Points: 
  • In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has determined the bank-specific capital requirements for the Commerzbank Group in 2024.
  • The additional own funds requirement for Pillar 2 (P2R) slightly increases by 25 bp to 2.25% of total capital, of which at least 1.27% must be covered with Common Equity Tier 1 (CET1) capital.
  • The SREP decision replaces the previous SREP decision with effect from 1 January 2024.
  • As of 30 September 2023, the pro forma CET1 requirement for Commerzbank Group amounts to 10.27% of risk weighted assets (MDA threshold) when applying the new SREP decision.

EQS-News: Commerzbank lays foundation for further strategic plan with strong 9M net profit – targeting RoTE of more than 11% in 2027

Retrieved on: 
Thursday, December 14, 2023
Yellow-fin, Risk, Private, AT1, German Finance Agency, European Central Bank, Face, Annual, NPE, PSBC, Common equity, Wealth management, MBank, Environment, Commerzbank, FX, MDA, Growth, Economic development, Bank, Capital market, CET, Rote, Central bank, TLA, Investment, Security (finance), Cryptocurrency, Retail, Life insurance, Video game, Q3

The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.

Key Points: 
  • The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.
  • By 2027, the revenue base is to be further expanded through consistent customer orientation and profitability is to be continuously increased.
  • The Bank’s financial steering will continue to be based on the cost-income ratio, which is planned to improve to around 55% by 2027.
  • For 2022 to 2024, the plan is still to distribute a total of €3 billion to shareholders through dividends and share buy-backs.

EQS-News: SREP capital requirements for Commerzbank determined for 2024 – distance to MDA threshold remains comfortable

Retrieved on: 
Thursday, December 14, 2023
Pillar, Central bank, MDA, ECB, SSM, AT1, European Central Bank, Commerzbank, Common equity, Single, Risk, Strategic planning, Bank

In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has determined the bank-specific capital requirements for the Commerzbank Group in 2024.

Key Points: 
  • In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has determined the bank-specific capital requirements for the Commerzbank Group in 2024.
  • The SREP decision replaces the previous SREP decision with effect from 1 January 2024.
  • As of 30 September 2023, the pro forma CET1 requirement for Commerzbank on group level amounts to 10.27% of risk weighted assets (MDA threshold) when applying the new SREP decision.
  • The resulting leverage ratio requirement of 3.1% is met by a leverage ratio of 4.9% as of September 2023.

Informa PLC to Host QuantMinds International Conference at the InterContinental O2 in London

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Wednesday, November 8, 2023
Citadel, Woman, Research, Derivative, Bank, Barclays, Face, InterContinental, FX, Doctor of Philosophy, Cutlery and Allied Trades Research Association, Fundamental, ANZ, Leif Andersen, Socialization, Computational finance, Imperial College London, Interest, IBN, International, FTSE, Systematic, Fudan University, London Stock Exchange, Bank of America, Quantitative analysis, University of Toronto, University, ALGO, Risk assessment, JPMorgan Chase, Columbia University, Volatility, Risk, London Business School, ESG, Regulation, LLM, Fidelity, Machine learning, Climate change, CUNY, Baruch College, ADIA, BlackRock, EDHEC Business School, Breakfast, Credit Suisse, Credit risk, Commerzbank, ML, Inflation, Toronto, Informa, Portfolio optimization, Management, Risk management, Citigroup, Mathematics, Liquidity

LONDON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- via IBN -- Informa PLC, a prominent international events, digital services, and academic knowledge group, is thrilled to announce its forthcoming event, QuantMinds International , the world's premier quant finance conference.

Key Points: 
  • LONDON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- via IBN -- Informa PLC, a prominent international events, digital services, and academic knowledge group, is thrilled to announce its forthcoming event, QuantMinds International , the world's premier quant finance conference.
  • Scheduled from November 13th to 16th, 2023, this esteemed event will take place at the renowned InterContinental O2 in London.
  • Informa’s QuantMinds International event offers a unique opportunity to explore and network in the ever-changing macroeconomic and financial landscape.
  • Informa is listed on London Stock Exchange and a member of FTSE 100, with 11,000 colleagues working in more than 30 countries.

Versana Expands Leadership Team, Hires Christine Scaffidi as Head of Product and Christopher Fonte as Head of Sales

Retrieved on: 
Wednesday, November 8, 2023
Syndication, Bank, Barclays, J. P. Morgan, Corporation, Amazon Web Services, Credit Suisse, Bloomberg L.P., Fonte, Bank of America, Growth, Head, Productivity software, Commerzbank, Lehman Brothers, Citigroup, Finastra, Security (finance)

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Versana today announced that industry veterans Christine Scaffidi and Christopher Fonte have joined the company as Head of Product and Head of Sales, respectively, reporting directly to Cynthia Sachs, Founding CEO. Each brings decades of valuable banking, data and technology experience, underscoring Versana's continuing drive to modernize the $7 trillion corporate loan market.

Key Points: 
  • NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Versana today announced that industry veterans Christine Scaffidi and Christopher Fonte have joined the company as Head of Product and Head of Sales, respectively, reporting directly to Cynthia Sachs, Founding CEO.
  • In her role as Head of Product, Scaffidi will be responsible for product strategy and execution of the company's product roadmap, working closely with David Kamp, CTO.
  • In his role as Head of Sales, Fonte will be responsible for leading the company's sales organization and growing its revenue base.
  • "We're thrilled that Christine and Christopher have joined Versana to execute on our transformative mission," said Cynthia Sachs, Founding CEO.

SIX collaborates with the Swiss National Bank to pilot wholesale CBDC issuance in Switzerland

Retrieved on: 
Thursday, November 2, 2023
Central securities depository, SNB, Basler Kantonalbank, ICSD, CSD, Distributed ledger, Banque cantonale vaudoise, CBDC, DLT, UBS, SDX, Commerzbank, SIX, Interbank, Swiss National Bank, Cryptocurrency

SIX , the Swiss National Bank (SNB) and six commercial banks, will collaborate on a ground-breaking pilot focused on tokenized central bank money for financial institutions (wholesale CBDC).

Key Points: 
  • SIX , the Swiss National Bank (SNB) and six commercial banks, will collaborate on a ground-breaking pilot focused on tokenized central bank money for financial institutions (wholesale CBDC).
  • This pilot, Helvetia Phase III, will, for the first time, see the orchestration of a real Swiss Franc wCBDC settling digital securities transactions.
  • The pilot builds on the findings of earlier Helvetia Phases I and II by the BIS Innovation Hub, the SNB and SIX.
  • Participating banks will be able to issue digital Swiss Franc bonds, which will be settled against wCBDC on a delivery-versus-payment basis.

Longroad Energy Closes Financing of Sun Streams 4 a 377 MWdc Solar and 300 MWac / 1200 MWh Storage Project

Retrieved on: 
Wednesday, November 1, 2023
Power purchase agreement, APS, Inflation Reduction Act of 2022, PPA, CIBC, National Junior College Athletic Association, Public sector banks in India, Life, Sun, Arizona State Land Department, IRA, Electricity, Sun Stream, Maintenance, Cell, Engineering, First Solar, Scalability, BNP Paribas, Commerzbank, Environment, ANZ, Growth, Sungrow Huainan Solar Farm, Partnership, National Australia Bank, CO2, EPC, Renewable energy, Resource management, CoBank, Inflation, BESS, SMA, Arizona Public Service, McCarthy, PNC, Uranium mining

BOSTON, Nov. 1, 2023 /PRNewswire/ -- Longroad Energy, a U.S. based renewable energy developer, owner and operator, announced today the financial close and start of construction of Sun Streams 4, its 377 MWdc PV and 300 MWac / 1200 MWh storage project. Sun Streams 4 is Longroad's largest solar and storage project to date, and is the company's third project in its Sun Streams complex based in Maricopa County, AZ. Commercial operations for Sun Streams 4 is currently expected by mid-2025.

Key Points: 
  • Sun Streams 4 is Longroad's largest solar and storage project to date, and is the company's third project in its Sun Streams complex based in Maricopa County, AZ.
  • "Longroad continues to make significant strides with our flagship Sun Streams portfolio in the important Arizona market," said Paul Gaynor, CEO of Longroad Energy.
  • The project is part of the Sun Streams portfolio that Longroad acquired from First Solar in early 2021.
  • Sun Stream 4's 300 MWac / 1200 MWh battery energy storage system (BESS) will be provided by U.S.-based energy storage platform provider Powin.

EQS-News: MSC Mediterranean Shipping Company publishes voluntary public takeover offer for Hamburger Hafen und Logistik Aktiengesellschaft – Acceptance period starts today

Retrieved on: 
Thursday, October 26, 2023
TEU, Parliament, Mainzer, Physikalisch-Technische Bundesanstalt, ISIN, 2021 German federal election, City, Port of Hamburg, Growth, MSC, Supervisory board, Free, Partnership, EUR, CET, Commerzbank, Investment, Class, HHLA, Security (finance), Property management, Cryptocurrency

Following approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, “BaFin”), Port of Hamburg Beteiligungsgesellschaft SE, a wholly owned indirect subsidiary of MSC Mediterranean Shipping Company S.A. (“MSC”), today published the offer document for its voluntary public takeover offer for Hamburger Hafen und Logistik Aktiengesellschaft (“HHLA”, ISIN: DE000A0S8488).

Key Points: 
  • Following approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, “BaFin”), Port of Hamburg Beteiligungsgesellschaft SE, a wholly owned indirect subsidiary of MSC Mediterranean Shipping Company S.A. (“MSC”), today published the offer document for its voluntary public takeover offer for Hamburger Hafen und Logistik Aktiengesellschaft (“HHLA”, ISIN: DE000A0S8488).
  • With this offer, MSC intends to acquire all free-floating HHLA Class A shares.
  • In this joint venture, the City of Hamburg will hold at least a
    50.1 % stake and MSC up to 49.9 % of HHLA.
  • The full offer document, a non-binding English translation and supplementary information are available on a dedicated transaction website: https://poh-offer.de .

EQS-News: CLAAS successfully closes €850 million credit line

Retrieved on: 
Tuesday, October 17, 2023
Commerzbank, Deutsche Bank, BNP Paribas, Rabobank, Growth, Picture archiving and communication system, HSBC, UniCredit, CLAAS, DZ, Security (finance), Bank

CLAAS has signed a €850 million revolving credit facility.

Key Points: 
  • CLAAS has signed a €850 million revolving credit facility.
  • This strengthens CLAAS in the long term," says Henner Böttcher, Chief Financial Officer of CLAAS.
  • The new transaction replaces the existing syndicated credit line of € 500 million from 2022.
  • The revolving credit facility is one of the standard financing instruments of the CLAAS Group and serves to secure short-term liquidity.

New Capital Return Policy decided: Commerzbank plans to increase shareholder participation in company’s success

Retrieved on: 
Thursday, September 28, 2023
German Finance Agency, European Central Bank, Annual, Supervisory board, AGM, Commerzbank, Central bank, ECB, Economic development, AT1, Bank, Policy, MDA, Rote, Management, Online shopping, Holding company

New Capital Return Policy decided: Commerzbank plans to increase shareholder participation in company’s success

Key Points: 
  • New Capital Return Policy decided: Commerzbank plans to increase shareholder participation in company’s success
    The issuer is solely responsible for the content of this announcement.
  • On this basis, Commerzbank’s Board of Managing Directors has decided to update the Bank’s Capital Return Policy following consultation with the Supervisory Board.
  • For 2022 to 2024, Commerzbank intends to return a total of €3 billion to shareholders as dividends and share buy-backs.
  • The full, revised Capital Return Policy will shortly be available on the Commerzbank website:
    On 8 November 2023, Commerzbank will present all details of the further developed strategy as well as the concrete measures and targets for the years 2024 to 2027.