On 5 November 2020, Commerzbank published its Q3 2020 Interim Report. Press release and presentations on the results for Q3 are available on this website.
News
Commerzbank expects to fully write off existing goodwill of around €1.5bn and a negative risk result of at least €1.7bn (08.01.2021)
Goodwill write-off has no effect on regulatory capital.
Manfred Knof: “After this balance sheet clean-up, we are well prepared for the road ahead of us. Our goal is to make the bank more profitable in the long-term”
Bettina Orlopp: “By increasing our risk result we are responding to the ongoing Corona pandemic and feel well prepared for further developments this year”
Sven Korndörffer appointed as new Head of Communications at Commerzbank (04.01.2021)
Previous Divisional Board Member for Group Communications Richard Lips left the Bank at the end of the year.
Commerzbank posts further restructuring expenses for cost reductions (28.12.2020)
Bank and Group Works Council have reached agreement about the planning of restructuring measures in the period from 2021 to 2024
Additional provisions resolved for the headcount reduction announced in 2019
Bettina Orlopp: “With the additional reductions, we are creating the basis for absolutely necessary future cost-savings”
Regulatory capital requirements for Commerzbank to fall for 2021 (30.11.2020)
BaFin reduces O-SII capital requirement to 1.25% with immediate effect.
ECB’s SREP capital requirements remain in place for 2021.
Common Equity Tier 1 requirement as of 30 September 2020 (MDA threshold) pro forma at 9.53%.
