AT1

KBRA Releases 12 Things in Credit: November 2023

Retrieved on: 
Friday, December 1, 2023
Professional Services, Finance, AT1, Addition Financial, KBRA

KBRA releases topical and timely commentary on credit markets, compiled from our weekly podcast, 3 Things in Credit, hosted by our Chief Strategist, Van Hesser.

Key Points: 
  • KBRA releases topical and timely commentary on credit markets, compiled from our weekly podcast, 3 Things in Credit, hosted by our Chief Strategist, Van Hesser.
  • Among the wide-ranging topics Van has addressed over the past month are rates volatility, consumer dry powder, and the Additional Tier 1 (AT1) capital securities market.
  • Each week, we dig into and provide perspective on issues credit-market participants care about.
  • And look for our monthly published recap to catch up on what you might have missed.

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.

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.

EQS-News: 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.

Commerzbank has decided on new Capital Return Policy

Retrieved on: 
Thursday, September 28, 2023
Risk management, Supervisory board, AGM, Commerzbank, ECB, AT1, Economic development, Policy, MDA, Rote, Security (finance), Holding company, Online shopping

Commerzbank expects an increased profitability of its businesses and with a CET1 ratio of 13.5% a net RoTE of more than 11% by 2027.

Key Points: 
  • Commerzbank expects an increased profitability of its businesses and with a CET1 ratio of 13.5% a net RoTE of more than 11% by 2027.
  • 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 €3bn to shareholders as dividends and share buy-backs.
  • The full, revised Capital Return Policy will shortly be available on our website.

Twelve Capital Insurance Bond Strategy - Market Update

Retrieved on: 
Tuesday, August 29, 2023
Insurance, Public sector banks in India, Environment, Bond credit rating, Credit Suisse, AT1

ZURICH, Switzerland, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The insurance sector has performed well throughout the challenging first half of 2023, especially when compared to the broader corporate landscape.

Key Points: 
  • ZURICH, Switzerland, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The insurance sector has performed well throughout the challenging first half of 2023, especially when compared to the broader corporate landscape.
  • We believe it will continue to be resilient even if markets remain volatile in the second half of the year.
  • Insurance companies have reported robust solvency positions and resilient earnings year to date, solidifying the sector's position as a defensive stronghold within the current economic environment.
  • In Twelve Capital’s opinion and observing market tendencies, the insurance sector is currently one of the most attractive within Investment Grade.

Commerzbank with strong first half of the year – net profit increased by almost 50% to €1.1 billion

Retrieved on: 
Friday, August 4, 2023
NPE, German Finance Agency, European Central Bank, Air Commerz, Private, TLA, RWA, Common equity, European Court of Justice, Commerzbank, MBank, Central bank, Semiconductor Manufacturing International Corporation, Share repurchase, European Court, Risk, ECB, AT1, ECJ, PSBC, Growth, Bank, MDA, Rote, Cryptocurrency, Renewable energy, Real estate, Video game

Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.

Key Points: 
  • Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.
  • Operating expenses increased to €1.481 billion (Q2 2022: €1.423 billion) as a result of earlier increases of accruals for variable compensation and general salary increases.
  • Thanks to the positive stock market performance, the securities volume increased to €208 billion (Q1 2023: €202 billion).
  • Deposit volumes remained stable at €96 billion (Q1 2023: €95 billion), with increased interest rates gradually being passed on.

EQS-News: Commerzbank with strong first half of the year – net profit increased by almost 50% to €1.1 billion

Retrieved on: 
Friday, August 4, 2023
NPE, German Finance Agency, European Central Bank, Air Commerz, Private, TLA, RWA, Common equity, European Court of Justice, Commerzbank, MBank, Central bank, Semiconductor Manufacturing International Corporation, Share repurchase, European Court, Risk, ECB, AT1, ECJ, PSBC, Growth, Bank, MDA, Rote, Cryptocurrency, Renewable energy, Real estate, Video game

Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.

Key Points: 
  • Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.
  • Operating expenses increased to €1.481 billion (Q2 2022: €1.423 billion) as a result of earlier increases of accruals for variable compensation and general salary increases.
  • Thanks to the positive stock market performance, the securities volume increased to €208 billion (Q1 2023: €202 billion).
  • Deposit volumes remained stable at €96 billion (Q1 2023: €95 billion), with increased interest rates gradually being passed on.