PSBC

Commerzbank increases net profit for 2023 to €2.2 billion – Strategy is delivering

Retrieved on: 
Thursday, February 15, 2024
Rote, Commerzbank, NPE, German Finance Agency, DACH, Bank, TLA, Growth, ECM, Equity capital markets, Risk, Private, Central bank, MBank, European Central Bank, ODDO BHF, PSBC, RWA, Tax, Policy, Common equity, AT1, Annual, Executive officer, Research, Environment, Partnership, Cryptocurrency

On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.

Key Points: 
  • On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.
  • Net interest income rose by a third to €8.368 billion (2022: €6.459 billion), while net commission income was slightly down at €3.386 billion (2022: €3.519 billion).
  • Net profit also rose accordingly: compared to the previous year, net profit after taxes and minority interests increased by 55% to €2.224 billion (2022: €1.435 billion).
  • Revenues amounted to €1.106 billion (Q3 2023: €1.171 billion); the operating result totalled €508 million (Q3 2023: €644 million).

EQS-News: Commerzbank increases net profit for 2023 to €2.2 billion – Strategy is delivering

Retrieved on: 
Thursday, February 15, 2024
Rote, Commerzbank, NPE, German Finance Agency, DACH, Bank, TLA, Growth, ECM, Equity capital markets, Risk, Private, Central bank, MBank, European Central Bank, ODDO BHF, PSBC, RWA, Tax, Policy, Common equity, AT1, Annual, Executive officer, Research, Environment, Partnership, Cryptocurrency

On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.

Key Points: 
  • On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.
  • Net interest income rose by a third to €8.368 billion (2022: €6.459 billion), while net commission income was slightly down at €3.386 billion (2022: €3.519 billion).
  • Net profit also rose accordingly: compared to the previous year, net profit after taxes and minority interests increased by 55% to €2.224 billion (2022: €1.435 billion).
  • Revenues amounted to €1.106 billion (Q3 2023: €1.171 billion); the operating result totalled €508 million (Q3 2023: €644 million).

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

Retrieved on: 
Wednesday, December 27, 2023
AT1, Private, TLA, Bank, European Central Bank, MBank, Environment, Commerzbank, PSBC, FX, Face, Risk, Central bank, Economic development, Annual, Yellow-fin, Common equity, German Finance Agency, MDA, Rote, Growth, Wealth management, Investment, Capital market, NPE

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: 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.

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.

Huawei Cloud Launches Financial Container Cloud to Enable Cloud Native Core Banking

Retrieved on: 
Wednesday, June 7, 2023
Cloud, Maintenance, Infrastructure as a service, Huawei, Speech, IPv6, Persistence (computer science), Consistency, CNCF, Daiwa Securities Group, Agricultural Bank, Platinum, Agricultural Bank of China, APM, BUILD, QOS, Diving, AOM, PSBC, Internet Protocol version 4, Video game, Network equipment provider, Mobile phone, Risk management, Kubernetes, Application

On June 7, William Dong, President of Huawei Cloud Marketing, delivered a keynote speech focusing on industry insights and value propositions and released the innovative solution Financial Container Cloud at the Huawei Global Intelligent Financial Summit.

Key Points: 
  • On June 7, William Dong, President of Huawei Cloud Marketing, delivered a keynote speech focusing on industry insights and value propositions and released the innovative solution Financial Container Cloud at the Huawei Global Intelligent Financial Summit.
  • Hu Yuhai, Vice President of Huawei Cloud Stack, introduced the new solution in detail at the summit:"Underpinned by Huawei Cloud Stack, the Financial Container Cloud is deployed in customers' on-premises data centers.
  • It has four features: high performance, high scalability & security, high maintainability and good openness and compatibility"
    The Financial Container Cloud incorporates Huawei Cloud's latest cloud service, CCE Turbo, delivering stellar performance and profound experience.
  • Moving forward, Huawei Cloud Stack will partner with financial customers to continue embracing container technologies and diving into cloud together for a digital future.

Huawei Cloud Launches Financial Container Cloud to Enable Cloud Native Core Banking

Retrieved on: 
Wednesday, June 7, 2023
Cloud, Maintenance, Infrastructure as a service, Huawei, Speech, IPv6, Persistence (computer science), Consistency, CNCF, Daiwa Securities Group, Agricultural Bank, Platinum, Agricultural Bank of China, Multimedia, APM, BUILD, QOS, Diving, AOM, PSBC, Internet Protocol version 4, Video game, Network equipment provider, Mobile phone, Risk management, Kubernetes, Application

On June 7, William Dong, President of Huawei Cloud Marketing, delivered a keynote speech focusing on industry insights and value propositions and released the innovative solution Financial Container Cloud at the Huawei Global Intelligent Financial Summit.

Key Points: 
  • On June 7, William Dong, President of Huawei Cloud Marketing, delivered a keynote speech focusing on industry insights and value propositions and released the innovative solution Financial Container Cloud at the Huawei Global Intelligent Financial Summit.
  • Hu Yuhai, Vice President of Huawei Cloud Stack, introduced the new solution in detail at the summit:"Underpinned by Huawei Cloud Stack, the Financial Container Cloud is deployed in customers' on-premises data centers.
  • It has four features: high performance, high scalability & security, high maintainability and good openness and compatibility"
    The Financial Container Cloud incorporates Huawei Cloud's latest cloud service, CCE Turbo, delivering stellar performance and profound experience.
  • Moving forward, Huawei Cloud Stack will partner with financial customers to continue embracing container technologies and diving into cloud together for a digital future.

Huawei: Accelerate Change, Shaping Smarter Greener Finance Together

Retrieved on: 
Wednesday, March 1, 2023
Persistence (computer science), FleetBoston Financial, O&M, Huawei, Software as a service, Intelligence, Digitalization, MEGA, Natural language, MWC, Computer vision, Acquisition, CMB, Mobile World Congress, Brain, Collaboration, Postal Savings Bank of China, Accelerating change, PSBC, Natural language processing, AI, Acceleration, Multi, Graph, China Merchants Bank, NLP, Mobile phone, Autonomy, Green

BARCELONA, Spain, March 1, 2023 /PRNewswire/ -- A financial industry forum titled "Accelerate Change, Shaping Smarter Greener Finance Together" is successfully held during the 2023 Mobile World Congress (MWC 2023).

Key Points: 
  • BARCELONA, Spain, March 1, 2023 /PRNewswire/ -- A financial industry forum titled "Accelerate Change, Shaping Smarter Greener Finance Together" is successfully held during the 2023 Mobile World Congress (MWC 2023).
  • In this way, we help financial customers accelerate changes, innovatively improve productivity, make productivity visible, and speed up evolution towards the future.
  • The comprehensive mobility and intelligence of financial services accelerate the modernization of core applications and data, bringing cloud-native development into reality.
  • Huawei Digital Finance embraces change and continuous innovation as it dives deep into the finance sector.

Commerzbank reports highest net profit in more than ten years thanks to strong revenue performance – positive outlook for 2023

Retrieved on: 
Wednesday, February 22, 2023
Science Based Targets initiative, Central bank, Share repurchase, Government, Commerzbank, MBank, Federal Housing Finance Agency, MDA, Aggression, Board of Management St. Molaga's National School v The Secretary General of the Department of Education and Science, PSBC, Human, Investment, ECB, CO2, European Central Bank, Telephone, Face, Supervisory board, NPE, Ecosystem, SME, Research, Annual, CET, ESG, Risk, Science, Bank, Biodiversity, Common equity, Private, AT1, Annual general meeting, Environment, Rote, TLA, Cryptocurrency, Pharmaceutical industry, Renewable energy, Insurance

Thanks to a strong customer business and with the tailwind of higher interest rates, revenue momentum accelerated over the course of the year.

Key Points: 
  • Thanks to a strong customer business and with the tailwind of higher interest rates, revenue momentum accelerated over the course of the year.
  • “Commerzbank has delivered as promised: We achieved our strategic and financial goals in the 2022 financial year.
  • “At the halfway point of our transformation programme, we are on track to becoming the digital advisory bank for Germany.
  • It remains however optimistic that it will continue its strong business performance and thus make further progress towards its medium-term goals.