On 13 May, 2020, Commerzbank published its Q1 2020 Interim Report. In addition, the regular Annual General Meeting has taken place as a virtual event. The broadcast of the official part is available here (only in german).
News
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
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.”
Commerzbank successfully issues additional tier 1 bond (08.06.2020)
First issuance under new programme met with great interest from investors
Bond volume of €1.25 billion – coupon laid down at 6.125% per annum volume
First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank (03.06.2020)
In cooperation with Commerzbank, İşbank is first bank in Turkey to use blockchain technology on trade finance transaction
Automatic matching of trade data-based on DLT provides irrevocable payment commitment, which not only serves as risk mitigation instrument, but also provides financing
Commerzbank launches issuance programme for additional tier 1 capital (26.05.2020)
Programme volume of up to 3 billion euros
Bettina Orlopp: “We are creating a framework with the AT 1 issuance programme that can be used flexibly. This will enable us to further optimise our capital structure and also respond to the additional business opportunities that have arisen for us in the context of the coronavirus crisis and the changed regulatory requirements.”
