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    CBK   DE000CBK1001

COMMERZBANK AG

(CBK)
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Commerzbank with strong results in the first -2-

05/12/2021 | 01:04am EDT
                                                                 Q1 2020 in %         Q4 2020 in % 2020 
Net interest income                                1,254   1,320         -5.0   1,151         +8.9  4,975 
Net commission income                                951     877         +8.5     837        +13.7  3,317 
Net fair value result*                               360    -304            -     182        +97.4     66 
Other income                                         -73     -42        -75.2    -142        +48.2   -172 
Revenues                                           2,492   1,851        +34.6   2,029        +22.8  8,186 
Revenues excl. exceptional items                   2,308   2,024        +14.0   2,048        +12.7  8,447 
Risk result                                         -149    -326        +54.4    -681        +78.2 -1,748 
Operating expenses                                 1,469   1,503         -2.3   1,609         -8.7  6,160 
Compulsory contributions                             336     301        +11.9      67            -    512 
Operating profit or loss                             538    -278            -    -328            -   -233 
Impairments on goodwill and                            -       -            -   1,578            -  1,578 
other intangible assets 
Restructuring charges                                465       -            -     614        -24.3    814 
Pre-tax profit or loss (discontinued operations)       -      44            -     -10            -     30 
Pre-tax profit or loss (Group)                        73    -234            -  -2,530            - -2,597 
Taxes                                                -83      48            -     199            -    264 
Minorities                                            23       8            -     -26            -      9 
Consolidated profit or loss**                        133    -291            -  -2,702            - -2,870 
Cost-income ratio in operating business             59.0    81.2            -    79.3            -   75.2 
excl. compulsory contributions (%) 
Cost-income ratio in operating business             72.5    97.4            -    82.6            -   81.5 
incl. compulsory contributions (%) 
Operating RoTE (%)                                   7.8    -4.1            -    -4.6            -   -0.8 
Net RoTE (%)***                                      1.5    -4.8            -   -43.9            -  -11.7 
Net RoE (%)                                          1.5    -4.4            -   -40.5            -  -10.7 
CET 1 ratio (%)***                                  13.4    13.2            -    13.2            -   13.2 
Leverage ratio                                       4.7     4.8            -     4.9            -    4.9 
Total assets (EURbn)                                   538     517            -     507            -    507 

* Net income from financial assets and liabilities measured at fair value through profit and loss. ** Consolidated profit or loss attributable to Commerzbank shareholders and investors in additional equity components. *** Reduced by potential dividend accrual and potential (fully discretionary) AT1 coupons.

Press contact Sascha Ullrich +49 69 136-82349 Erik Nebel +49 69 136-44986 Sina Weiß +49 69 136-27977

About Commerzbank Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 30,000 corporate client groups and around 11 million private and small-business customers in Germany. The Bank's two Business Segments - Private and Small-Business Customers and Corporate Clients - offer a comprehensive portfolio of financial services. Commerzbank transacts approximately 30 per cent of Germany's foreign trade and is present internationally in almost 40 countries in the corporate clients' business. The Bank focusses on the German Mittelstand, large corporates, and institutional clients. As part of its international business, Commerzbank supports clients with German connectivity and companies operating in selected future-oriented industries. Following the integration of Comdirect, private and small-business customers benefit from the services offered by one of Germany's most advanced online banks combined with personal advisory support on site. Its Polish subsidiary mBank S.A. is an innovative digital bank that serves approximately 5.5 million private and corporate customers, predominantly in Poland, but also in the Czech Republic and Slovakia. In 2020, Commerzbank generated gross revenues of some EUR8.2 billion with almost 48,000 employees.

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. -----------------------------------------------------------------------------------------------------------------------

ISIN:          DE000CBK1001 
Category Code: QRF 
TIDM:          CZB 
LEI Code:      851WYGNLUQLFZBSYGB56 
Sequence No.:  104451 
EQS News ID:   1195536 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1195536&application_name=news 
 

(END) Dow Jones Newswires

May 12, 2021 01:03 ET (05:03 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
COMMERZBANK AG 1.20% 5.475 Delayed Quote.3.97%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
MBANK S.A. 0.40% 400 End-of-day quote.123.21%
QRF -0.45% 11.15 Real-time Quote.-1.76%
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Analyst Recommendations on COMMERZBANK AG
More recommendations
Financials
Sales 2021 8 342 M 9 777 M 9 777 M
Net income 2021 -346 M -405 M -405 M
Net Debt 2021 - - -
P/E ratio 2021 -18,5x
Yield 2021 -
Capitalization 6 857 M 8 029 M 8 036 M
Capi. / Sales 2021 0,82x
Capi. / Sales 2022 0,83x
Nbr of Employees 38 671
Free-Float 85,0%
Chart COMMERZBANK AG
Duration : Period :
Commerzbank AG Technical Analysis Chart | CBK | DE000CBK1001 | MarketScreener
Technical analysis trends COMMERZBANK AG
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 5,48 €
Average target price 6,17 €
Spread / Average Target 12,7%
EPS Revisions
Managers and Directors
Manfred Knof Chief Executive Officer
Bettina Orlopp Deputy Chairman-Supervisory Board & CFO
Helmut Gottschalk Chairman-Supervisory Board
Dennis Bartel Head-Human Resources & Technology
Bernd Reh Head-Research & Press Contact
Sector and Competitors