Commerzbank: Preliminary CET 1 ratio per end of June 2016 at 11.5% - group net profit for the second quarter 2016 in line with consensus

Commerzbank: Preliminary CET 1 ratio per end of June 2016 at 11.5% - group net profit for the second quarter 2016 in line with consensus


Commerzbank Aktiengesellschaft  / Key word(s): Miscellaneous

25.07.2016 21:37

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transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


On the basis of preliminary figures Commerzbank posted an Operating profit
of EUR342 million (Q2 2015: EUR419 million). Net profit attributable to
Commerzbank shareholders stood at EUR209 million in the second quarter 2016
(Q2 2015: EUR307 million). Both are in line with consensus.

The Common Equity Tier 1 ratio (CET 1) under full application of Basel 3
stood at 11.5% at the end of June 2016 (end of March 2016: 12.0%; end of
June 2015: 10.5%) based on preliminary figures. This ratio includes a
dividend accrual of 10 cents per share for the first half of 2016.

The change in the CET1 ratio mainly results from the following non-
operating valuation and methodology effects:
  - Higher risk-weighted assets (RWA) in particular for operational risks
    due to the consideration of new external events factored in by external
    databases representing industrywide damage claims of banks.
  - Higher pension liabilities due to lower discount factors (reduced from
    2% to 1.7%) as well as higher capital deductions from revaluation
    reserves in particular driven by higher credit spreads for Italian
    sovereign debt.

As already stated in the past, the capital ratio can be volatile in the
current market environment. Commerzbank's ambition remains to keep its
capital ratio under full application of Basel 3 above SREP-requirements.

Figures shown in this release are preliminary. Commerzbank will publish its
final figures for the second quarter 2016 on 2 August 2016.


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,
particularly to reduce its ACR portfolio, 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

Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830

25.07.2016 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Commerzbank Aktiengesellschaft
              Kaiserstraße 16
              60311 Frankfurt am Main
Phone:        +49 (069) 136 20
Fax:          -
ISIN:         DE000CBK1001
WKN:          CBK100
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
              Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated
              Unofficial Market in Tradegate Exchange; Terminbörse EUREX;
              London, SIX
End of Announcement                             DGAP News-Service