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Commerzbank AG (CBKG.DE)

CBKG.DE on Xetra

6.59EUR
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Commerzbank: strategy and financial objectives 2020
Thursday, 29 Sep 2016 02:00am EDT 

Commerzbank AG : Board of managing directors presents strategy and financial objectives 2020 to the supervisory board . As part of "Commerzbank 4.0" strategy, it will concentrate on its core businesses, digitalise 80 percent of relevant processes, and thereby achieve significant efficiency gains. . Business will be focused in two customer segments, "Private and Small Business Customers" and "Corporate Clients" . Goodwill and intangible assets of both corporates & markets and mittelstandsbank will be subjected to an impairment test. This means that most probably around 700 million euros ($785.19 million) would be written off in Q3 of 2016 . Net result would be negative in Q3. Write-Offs do not affect Common Equity Tier 1 (CET 1) ratio . Despite goodwill write-offs, commerzbank is expecting a small net profit for 2016 as a whole. . CET 1 ratio after full application of Basel 3 will be higher in Q3 of 2016 than in previous quarter . Commerzbank is aiming for a net return on tangible equity (RoTE) of at least 6 percent by end of 2020 . By end of 2020 Commerzbank will have sustainably increased its profitability . Commerzbank is expecting revenues for 2020 to total between 9.8 billion and 10.3 billion euros . For 2020 bank expects a ratio of above 13 percent . Says staff reductions amounting to around 9,600 full-time positions . At same time, around 2,300 new jobs will be created in areas of business growth.  Full Article

Bafin head says not looking at Commerzbank-Deutsche Bank merger
Thursday, 1 Sep 2016 06:36am EDT 

Bafin head Felix Hufeld, speaking at a financial conference in Frankfurt: Asked about possible Deutsche Bank - Commerzbank merger, says "we currently don't look at hypothetical problems" Further company coverage: [DBKGn.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1272;)).  Full Article

Commerzbank CEO says Germany has too many banks
Wednesday, 31 Aug 2016 04:45am EDT 

Commerzbank CEO says : We have too many banks in Germany . We are very well capitalised Further company coverage: [CBKG.DE] ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

Polish regulator seeks capital buffer for Commerzbank unit
Thursday, 18 Aug 2016 01:51am EDT 

mBank : Poland's financial regulator KNF has asked the country's macroeconomic stability body KSF to give an opinion on whether to recognise Polish mBank as a "systemically important institution" and require it hold a capital buffer equal to 0.5 percent of its risk exposure, the bank said late on Wednesday. .mBank, Poland's fourth largest bank by assets, is the Polish unit of the German bank Commerzbank ..  Full Article

Commerzbank CFO says definitely no plans to sell M-Bank
Tuesday, 2 Aug 2016 04:05am EDT 

Commerzbank AG : CFO says disposal of M-Bank is definitely not on the agenda Further company coverage: [CBKG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1272;)).  Full Article

Poland's mBank confirms PLN 1 bln net profit goal for 2016
Thursday, 28 Jul 2016 05:56am EDT 

Poland's mBank : Poland's No.4 lender expects around 1 billion zlotys ($254.1 million) of net profit in 2016, its CEO Cezary Stypulkowski told a news conference on Thursday. . The Polish Commerzbank unit expects no more one-off transactions such as the Visa shares sale in the coming quarters. Further company coverage: [MBK.WA] ($1 = 3.9360 zlotys) (Reporting by Marcin Goclowski; Writing by Adrian Krajewski; Editing by Marcin Goettig) ((adrian.krajewski@thomsonreuters.com;)).  Full Article

Commerzbank AG says based on preliminary figures it posted an operating profit of 342 million euros for Q2
Monday, 25 Jul 2016 03:37pm EDT 

Commerzbank Ag : Says on the basis of preliminary figures commerzbank posted an operating profit of 342 million euros for Q2 .Says net profit attributable to commerzbank shareholders stood at 209 million euros in the second quarter 2016.  Full Article

Citigroup, JPMorgan picked as offer agents for Heta bond buyback
Tuesday, 12 Jul 2016 10:33am EDT 

Austrian province of Carinthia: Says has appointed Citigroup and J.P. Morgan as offer agents in connection with Heta bond buyback offer . Says offers are expected to be launched in autumn 2016 Further company coverage: [HAABI.UL] ((vienna.newsroom@thomsonreuters.com; +43 1 531 12 258;)).  Full Article

Commerzbank launches cash tender offer
Friday, 3 Jun 2016 06:32am EDT 

Commerzbank AG : Commerzbank Aktiengesellschaft launches cash tender offer .Invited holders of us $150 million subordinated bonds due Jan 15, 2023 to offer to sell their bonds for purchase by co for cash.  Full Article

Commerzbank AG gives FY 2016 dividend forecast, comments on Q1 2016 outlook-Reuters
Wednesday, 20 Apr 2016 06:56am EDT 

Commerzbank AG:Aims to pay dividend for 2016, mid-term goal is to pay out 40 percent of net profit -CEO-Reuters.CEO says sees Q1 2016 result below that of Q4 2015, following cautious start to the year.  Full Article

Return to normalised monetary policy far off -Commerzbank CEO

FRANKFURT, Nov 18 Banks, insurers and consumers are suffering under central banks' low interest rate policies but the situation is unlikely to change any time soon, Commerzbank Chief Executive Martin Zielke said on Friday.