Q2 2020 Results Q2 2020 Results

Commerzbank published its Q2 2020 Interim Report. A press release and presentations on the results for Q2 are available on this website.

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Commerzbank generates profit for quarter in spite of corona – costs and capital on track (05.08.2020)

Underlying revenues in second quarter of 2020 increased to €2.3bn (Q2 2019: €2.1bn) – significant growth in net commission income

Ongoing low NPE ratio of 0.8% reflects good quality of loan book

Common Equity Tier 1 ratio increased to 13.4% without usage of regulatory transitional rules

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Commerzbank and BayernLB finance two office buildings in the Lenbach Gardens in Munich (21.07.2020)

In March 2020, Hines Immobilien GmbH, on behalf of two institutional investors, managed the acquisition of the two premium office buildings "Sophie" and "Karl" in the Lenbach Gardens in Munich.

At the beginning of July 2020, BayernLB and Commerzbank granted a loan in the three-digit million range to the property companies for the partial refinancing of the investment.

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Supervisory Board of Commerzbank agrees to consensual termination of appointment and contract of CEO Martin Zielke (08.07.2020)

Upon the recommendation of the Presiding and Nominating Committee, the Supervisory Board of Commerzbank has agreed to the mutual termination of appointment and contract of CEO Martin Zielke

Zielke has declared his willingness to continue to perform his duties until a successor has been appointed

He will step down from his office the latest on 31 December 2020

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Martin Zielke offers the mutual termination from office and Stefan Schmittmann resigns as Chairman of the Supervisory Board (03.07.2020)

Commerzbank’s CEO, Martin Zielke, has offered a mutual termination from office to the Supervisory Boardffects amounting to €185m

Supervisory Board Chairman, Stefan Schmittmann, today resigned with effect from 3rd of August 2020

Zielke: “I would like to open the way for a fresh start. The bank needs a profound transformation and a new CEO, who will get the necessary time from the markets to implement a strategy.”

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Annual General Meeting

The recording (German language) is available here.

Recording

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