- CET 1 ratio with full application of Basel 3 in the baseline scenario 13.1% (2014: 10.6%); in the adverse scenario 7.4% (2014: 6.9%)
- Chief Risk Officer Chromik: "Commerzbank is stress resistant"
Commerzbank has attained a solid result in the Stress Test performed by the European Banking Authority (EBA). In the baseline scenario of the Stress Test Commerzbank has posted a Common Equity Tier 1 ratio (CET 1) of 13.1%. In the so-called adverse scenario of the Stress Test the Common Equity Tier 1 ratio was 7.4%. Both results apply to the end of the period under observation in 2018. These ratios already include significant "phase-in" effects as a result of regulatory requirements (Basel 3). These "phase-in" effects which amounted to 1.7% were incurred irrespective of the Stress Test.
In the EBA Stress Test in 2014 the Common Equity Tier 1 ratio with full application of Basel 3 for Commerzbank in the baseline scenario was 10.6%, in the adverse scenario 6.9%. In comparison to 2014 the 2016 EBA Stress Test was once again tightened significantly in terms of its methodology and expanded by further risk factors.
"Commerzbank is robust and stress resistant" says Marcus Chromik, the Chief Risk Officer of Commerzbank. "Even under the adverse conditions of the EBA stress scenario, the stability of the Bank would be granted. The low-risk balance sheet and good capital ratio of Commerzbank are proof to this."
Since the 2014 EBA Stress Test Commerzbank has run down non-strategic portfolios by approx. 54 billion euros while preserving value, created approx. 3.5 billion euros of balance sheet equity capital, and thus increased the Common Equity Tier 1 ratio with full application of Basel 3 by 300 basis points from 9.0% (end of 2013) to 12.0% (end of 2015).
Under https://www.commerzbank.de/en/hauptnavigation/aktionaere/aktuelles_2/stresstest2016.html you can find further information on the publication by the EBA from 29 July 2016.
Margarita Thiel +49 69 136-46646
Alexander Cordes +49 69 136-42764
Commerzbank is a leading international commercial bank with branches and offices in more than 50 countries. The core markets of Commerzbank are Germany and Poland. With the business areas Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, its private customers and corporate clients, as well as institutional investors, profit from a comprehensive portfolio of banking and capital market services. Commerzbank finances more than 30 per cent of Germany's foreign trade and is the unchallenged leader in financing for SMEs. With its subsidiaries Comdirect and Poland's M Bank it owns two of the world's most innovative online banks. With approximately 1,050 branches and more than 90 advisory centres for business customers Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts more than 16 million private customers, as well as 1 million business and corporate clients. The Bank, which was founded in 1870, is represented at all the world's major stock exchanges. In 2015, it generated gross revenues of EUR9.8 billion with 51,300 employees.
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 release.
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