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Commerzbank AG (CBKG.DE)

CBKG.DE on Xetra

24 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Rickmers Trust Management entered into deed of consent with Commerzbank AG
Friday, 9 Dec 2016 06:18am EST 

Rickmers Trust Management Pte. Ltd. : Has entered into a deed of consent with Commerzbank AG, Singapore Branch . Trustee-Manager has entered into a memorandum of agreement for sale of "India Rickmers" vessel securing CMB facility . Deed in relation to a settlement of senior loan facilities extended by CMB to a subsidiary of trust . CMB has agreed to waive repayment of a material portion of remaining debt owed under CMB facility following partial prepayment . "sale is not expected to lead to material loss in q4 of 2016" .Net proceeds from sale will be applied towards partial prepayment of cmb facility.  Full Article

Fitch says German banks stable, but universal banks under pressure
Tuesday, 6 Dec 2016 06:18am EST 

Fitch on German banks : Fitch: German banks stable, but universal banks under pressure . Fitch on German banks - domestic operating environment is sound, but remains tough with low interest rates, rising costs, intense competition . Fitch on German banks - savings, cooperative banks are germany's most profitable & resilient due to stronger & wider-margin retail and sme franchises . Fitch on German banks-interest rates risk is a long-term challenge for most german banks due to high share of long-term, fixed-rate loans . Fitch on German banks - we expect banking sector's net interest margin will come under pressure as proportion of low-yielding loans increase .Fitch - believe short-term execution risk will be high for Deutsche and Commerzbank.  Full Article

Commerzbank currently has no plans for CoCo bonds - CFO
Friday, 4 Nov 2016 04:35am EDT 

Commerzbank CFO says : Is confident of meeting SREP capital requirements in 2017, 2018 . Heta resolution will have positive effect of 140 million euros in Q4 . Current working assumption is that Commerzbank will not pay a dividend for 2017, 2018 . Currently sees no requirement for AT1 bond issuance Further company coverage: [CBKG.DE] ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

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

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MOVES-Commerzbank’s Lofts joins Corporates Intl unit

LONDON, Feb 23 Commerzbank’s Graham Lofts will leave his role as head of international loan origination after eight years to join the bank’s Corporates International division as country manager UK Corporates International.