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Additional provisions on foreign currency loans in Poland in the amount of ?436 million - Commerzbank's result burdened by a corresponding amount; still positive full-year net result expected

01/21/2022 | 12:23pm EDT

Commerzbank Aktiengesellschaft (CZB)
Additional provisions on foreign currency loans in Poland in the amount of ?436 million - Commerzbank's result burdened by a corresponding amount; still positive full-year net result expected

21-Jan-2022 / 18:22 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Additional provisions on foreign currency loans in Poland in the amount of ?436 million - Commerzbank's result burdened by a corresponding amount; still positive full-year net result expected

Today, mBank in Poland made provisions for the fourth quarter 2021 regarding the foreign currency indexed loan agreements in the amount of PLN 2,006 million (appr. ?436 million).

Commerzbank's fourth quarter operating result is burdened by a corresponding amount. Nevertheless, Commerzbank expects a positive net result for the financial year 2021.

****

Disclaimer
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management's current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.




Contact:
Christoph Wortig
Head of Investor Relations
Commerzbank AG
Investor Relations
Tel.: +49 69 136 - 21331
e-mail:ir@commerzbank.com


ISIN: DE000CBK1001
Category Code: MSCU
TIDM: CZB
LEI Code: 851WYGNLUQLFZBSYGB56
Sequence No.: 138270
EQS News ID: 1271646

 
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