LSE:CZB

Commerzbank strengthens Board of Managing Directors - newly formed Board Team set to take Commerzbank into a successful future

Wednesday, September 15, 2021 - 4:13pm

At today's meeting, the Supervisory Board of Commerzbank made personnel decisions in order to establish the Board Team for the far-reaching transformation that has been set in train in the context of Strategy 2024.

Key Points: 
  • At today's meeting, the Supervisory Board of Commerzbank made personnel decisions in order to establish the Board Team for the far-reaching transformation that has been set in train in the context of Strategy 2024.
  • The appointment of Thomas Schaufler to the Board of Managing Directors is still subject to the usual approval by the regulatory authority.
  • As already announced in June, Sabine Schmittroth will return to focusing fully on her role as Labour Relations Director.
  • The Supervisory Board has also appointed Dr Jrg Oliveri del Castillo-Schulz as the new COO on the Board of Managing Directors.

Commerzbank achieves operating result of €570m in first half year - transformation making good progress

Wednesday, August 4, 2021 - 7:00am

The high level of customer orientation of the Bank is reflected in the sustained good customer feedback.

Key Points: 
  • The high level of customer orientation of the Bank is reflected in the sustained good customer feedback.
  • The planned increase in the volume for sustainable financial products to 300 billion by 2025 at the latest has made good progress.
  • "We have achieved a solid operating result in the first half of the year.
  • With the further progress of the transformation, the Bank targets operational costs of around 6.5 billion.

Commerzbank demonstrates resilience in EBA stress test

Friday, July 30, 2021 - 6:52pm

- Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"

Key Points: 
  • - Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"
    Commerzbank has again demonstrated its resilience in this year's stress test conducted by the European Banking Authority (EBA).
  • In the adverse stress test scenario, the common equity tier 1 ratio (CET 1 ratio) came out at 8.2% at the end of the 2023 stress test horizon.
  • 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.
  • The stress test assumed a static balance sheet and therefore did not take account of any current or future business strategies or management initiatives.

Commerzbank retains securities settlement in-house - outsourcing project stopped

Thursday, July 22, 2021 - 3:08pm

Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.

Key Points: 
  • Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.
  • Due to the project stop, the Bank is anticipating an exceptional write-off of around 200 million in the second quarter of 2021.
  • Since the launch of the outsourcing project in 2017, the market and technological environment have undergone substantial change.
  • "After careful consideration, we have taken the decision to stop the outsourcing project owing to the high implementation risks.

Commerzbank Board of Managing Directors stops project for outsourcing securities settlement - Exceptional write-off of around €200 million necessary

Thursday, July 22, 2021 - 3:08pm

Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.

Key Points: 
  • Today, Commerzbank's Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect.
  • The reasons for the decision are technical implementation risks and changed market conditions.
  • Due to the project stop, the Bank is anticipating an exceptional write-off of around 200 million in the second quarter of 2021.
  • The exceptional write-off will not impact the liquidity or the Common Equity Tier 1 (CET1) capital of the Bank.

Commerzbank Supervisory Board ensures continuity and stability on Board of Managing Directors

Wednesday, June 16, 2021 - 6:03pm

In this context, the Supervisory Board extended her appointment to the Board of Managing Directors by five years until June 2026 ahead of terms.

Key Points: 
  • In this context, the Supervisory Board extended her appointment to the Board of Managing Directors by five years until June 2026 ahead of terms.
  • His responsibilities include key enablers for the transformation, above all the ongoing process of digitalisation at Commerzbank.
  • A process to fill this position on the Board of Managing Directors, which is important to the Bank's ongoing success, has been initiated.
  • Manfred Knof, Chief Executive Officer of Commerzbank, said: "Commerzbank's Board of Managing Directors is a very strong team, one that we are now making even more cohesive and effective.

Commerzbank successfully issues further additional tier 1 bond

Tuesday, June 15, 2021 - 4:07pm

Commerzbank AG has successfully issued the third AT 1 bond under its issuance programme for additional tier 1 capital (AT 1).

Key Points: 
  • Commerzbank AG has successfully issued the third AT 1 bond under its issuance programme for additional tier 1 capital (AT 1).
  • The bond has a volume of 500 million and a fixed coupon of 4.25% per annum.
  • In 2020, Commerzbank issued two AT 1 bond under its issuance programme with a net volume of 1.75 billion.
  • The bond terms include a temporary write-down in the event that the Bank's Common Equity Tier 1 ratio (CET 1 ratio) drops below 5.125%.

Commerzbank with strong results in the first quarter - transformation successfully started

Wednesday, May 12, 2021 - 7:01am

In conjunction with stable expenses and a lower risk result, this led to an operating profit of \xe2\x82\xac538 million.

Key Points: 
  • In conjunction with stable expenses and a lower risk result, this led to an operating profit of \xe2\x82\xac538 million.
  • "\nRevenues in the first quarter increased by 35% to \xe2\x82\xac2,492 million (Q1 2020: \xe2\x82\xac1,851 million) primarily on the basis of a strong net commission income and positive valuation effects.
  • This was primarily due to strong securities business with an increase in volume of \xe2\x82\xac15 billion since the beginning of the year.
  • The expectations are based on the assumption that there is no fundamental change affecting the Swiss francs loan portfolio at mBank.\n'

Commerzbank and employee representatives agree on headcount reduction

Friday, May 7, 2021 - 1:04pm

"\nCommerzbank and the employee representatives have today agreed on a framework settlement of interests and a framework social plan for AG Germany.

Key Points: 
  • "\nCommerzbank and the employee representatives have today agreed on a framework settlement of interests and a framework social plan for AG Germany.
  • The binding agreements form the platform for a maximally socially responsible headcount reduction within the framework of the "Strategy 2024" adopted in February.
  • The Bank intends to implement the headcount reduction primarily through retirement arrangements, such as partial retirement or early retirement.
  • "This money is well invested as it enhances our planning certainty for the implementation of the headcount reduction," commented Manfred Knof, Chairman of the Board of Managing Directors of Commerzbank.

Commerzbank Aktiengesellschaft: Invitation to virtual Annual General Meeting of Commerzbank on 18 May 2021

Friday, April 9, 2021 - 3:02pm

Commerzbank AG invites its shareholders to its regular Annual General Meeting (AGM) on Tuesday 18 May 2021.

Key Points: 
  • Commerzbank AG invites its shareholders to its regular Annual General Meeting (AGM) on Tuesday 18 May 2021.
  • Shareholders may submit their questions via an online electronic system (Investor Portal) by the end of 16 May 2021.
  • The Supervisory Board will propose five new members for election at the Annual General Meeting.
  • They are to be elected for the period from the end of the Annual General Meeting until the end of the Annual General Meeting 2023.The proposed candidates are Helmut Gottschalk, Burkhard Keese, Daniela Mattheus, Caroline Seifert and Frank Westhoff.