Commerzbank Statement on the Publication of EBA
As of end of June 2011 Commerzbank’s Core Tier 1 ratio amounted to 9.9%. “We welcome the fact that the markets now have clarity with respect to the requirements put into place by EBA from mid-2012 onwards.
- (1888PressRelease) November 01, 2011 - Banks thus have the possibility to adopt measures at an early stage so as to reach the 9% Core Tier 1 ratio required by EBA,” said Eric Strutz, CFO of Commerzbank. For Commerzbank EBA calculated a sum of EUR 2.938 billion in its scenario. “We can reach the required ratio by means of a reduction in risk-weighted assets in non-core areas, the sale of non-strategic assets or retained earnings, for example. One thing goes without saying: We do not intend to make use of public funds,” said Eric Strutz.
As already announced, Commerzbank will publish its interim report for Q3 2011 on November 4, 2011.
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About Commerzbank
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Clients, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has above 60 sites in more than 50 countries and serves more than 14 million private clients as well as 1 million business and corporate clients worldwide. In 2010, it posted gross revenues of EUR 12.7 billion with some 59,000 employees.
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.
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