On 5 November 2020, Commerzbank published its Q3 2020 Interim Report. Press release and presentations on the results for Q3 are available on this website.
News
Regulatory capital requirements for Commerzbank to fall for 2021 (30.11.2020)
BaFin reduces O-SII capital requirement to 1.25% with immediate effect.
ECB’s SREP capital requirements remain in place for 2021.
Common Equity Tier 1 requirement as of 30 September 2020 (MDA threshold) pro forma at 9.53%.
Roland Boekhout, Board Member for Corporate Clients, leaves Commerzbank – Michael Kotzbauer appointed as his successor (27.11.2020)
Roland Boekhout, Member of the Board of Managing Directors of Commerzbank responsible for the Corporate Clients segment, has offered a mutually agreed termination of his contract to the Supervisory Board. The Supervisory Board has today accepted such termination. Roland Boekhout’s appointment to the Board of Managing Directors will end on 31 December 2020.
He will be replaced by Michael Kotzbauer who will be appointed to the Board of Managing Directors from 1 January 2021.
Commerzbank Research economic outlook: the state of emergency becomes the norm (27.11.2020)
Chief Economist Jörg Krämer: “We predict a strong economic recovery will emerge following a tough lockdown winter”.
2021 growth forecast: 4.5% for Germany, 5.0% for the eurozone, 4.0% for the US.
2021 DAX year-end forecast: 14,200 points.
Core inflation to average at only 0.8% in 2021.
Commerzbank reports stable customer business and strong capital ratio in spite of corona (05.11.2020)
Underlying revenues in Q3 at €2.1bn (Q3 2019: €2.2bn).
Operating expenses continued to fall to €1.52bn (Q3 2019: €1.56bn) despite IT investments.
Supervisory Board of Commerzbank: Nicholas Teller steps down from his mandate; Andreas Schmitz is to be appointed as his successor (04.11.2020)
Nicholas Teller steps down on 31 December 2020.
Hans-Jörg Vetter: “I am delighted that we have been able to attract Andreas Schmitz as a well-established expert in the financial sector to our Supervisory Board.”.
