May 02, 2011
Pre-announcement on Commerzbank's Q1 2011 results:
According to its preliminary figures, Commerzbank generated an operating profit of approx. EUR 1.1 billion in the first quarter of 2011. Gross revenues were approx. EUR 3.6 billion. At approx. EUR 320 million, loan loss provisions were significantly lower year-on-year. Operating expenses declined slightly to less than EUR 2.2 billion, while net profit was approx. EUR 1.0 billion.
All segments of the core bank reported positive results for the months January to March 2011, together generating an operating profit of approx. EUR 1.2 billion in the period. This sum includes one-off revenues of approx. EUR 360 million from the capital optimization measures successfully implemented early in 2011.
Total assets declined to approx. EUR 700 billion in the first quarter of 2011. The Bank's risk-weighted assets amounted to approx. EUR 250 billion. The Core Tier 1 ratio was approx. 11.0 %.
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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 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.