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May 11, 2020

Commerzbank retains mBank – Sales process terminated

This Ad-hoc release was published on May 11, 2020 at 14:24 CEST.

Polish mBank S.A. ("mBank") will remain part of the Commerzbank Group. Commerzbank has decided to retain its majority stake of 69.3% in its Polish subsidiary and to terminate the sales process. Under the current market conditions which are dominated by the coronavirus crisis, a transaction doesn’t seem feasible at reasonable terms. The Bank will consistently continue to pursue its Commerzbank 5.0 strategy. The Bank’s strong capital position provides a good basis for this.

Disclaimer and Forward-Looking Statement
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, 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.