07/11/2012
Commerzbank AG / Key word(s): Strategic Company Decision/Forecast
07.11.2012 20:00
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Commerzbank publishes strategic and financial goals until 2016
In the coming years Commerzbank will adapt its business model to the new
framework conditions in the financial sector and will concentrate on
focused growth. In the framework of its strategic agenda, through to 2016
the Bank is investing more than EUR 2.0 billion in the earnings power of
its core business in the segments Private Customers, Mittelstandsbank,
Corporates & Markets, and Central & Eastern Europe, while, thanks to
additional efficiency measures, maintaining its costs at a stable level and
further optimising its capital base. Thus in 2016 the Core Bank is to
achieve a return on equity after taxes (RoE) of more than 10%, with the
cost-income ratio (CIR) being reduced to around 60%. Taking into account
Basel 3 (phase-in), the Core Tier 1 ratio of the Group is always to be
substantially higher than 9% until the end of 2016. Above all, the Private
Customers business is to be strategically repositioned. Here Commerzbank
will invest some EUR 1.0 billion through to 2016. The portfolios in the
Non-Core Assets (NCA) segment are to be reduced until 2016 by more than
40%, essentially without any sales and while protecting their value. The
payment of dividends for the 2012 and 2013 business years is unlikely from
the current stance.
****
Disclaimer
This release contains statements concerning the expected future business of
Commerzbank, efficiency gains and expected synergies, expected growth
prospects and other opportunities for an increase in value of the company
as well as expected future net income per share, restructuring costs and
other financial developments and information. These forward-looking
statements are based on the management's current 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. Commerzbank has no obligation to periodically 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.
07.11.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Germany
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München, Stuttgart; Terminbörse
EUREX; London, SIX
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
