Press Release Press Release


May 16, 2007

Commerzbank Annual General Meeting 2007:
Successful start to the new fiscal year

"2006 was the best fiscal year in our history. We restored profitability and confirmed it by posting a record result, an impressive achievement. As the second-largest German bank, we are respected and recognized nationally and internationally." These were the opening remarks from Klaus-Peter Müller, Chairman of the Board of Managing Directors, as he welcomed shareholders to the Annual General Meeting of Commerzbank at the Jahrhunderthalle in Frankfurt-Hoechst. The shareholders are also profiting from this positive development with a dividend of EUR 0.75 per share, a 50% increase from last year. Following the good start in the first quarter of 2007, Müller projects that the bank will be able to exceed its target of a return on equity after tax of more than 12% for the full year.

Proactive strategy

The bank's continuing objective is to increase its profitability sustainably. To this end, efficiency and growth programmes have been launched in all operational business areas. In the retail customer business, the "Future through Growth" campaign which began last autumn has been very successful. With new products such as the free of charge account and open Saturdays in almost all branches, which attracted a great deal of attention, Commerzbank has acquired more than 150,000 net new clients in the last twelve months.

In the SME bank area, one in three companies with a turnover of at least EUR 2.5 million already has an account with Commerzbank. Activities abroad are once again playing a greater role strategically. The focus remains on central and eastern Europe, including Russia. There are plans to open additional branches in Hungary, the Czech Republic and Slovakia in order to support SME clients locally. Asia and the Middle East also belong to Commerzbank's target regions.

"We have proven that we not only achieve our targets, but that we go above and beyond them. The success of each of our segments shows that we have a balanced business structure and are consistently focused on our core competencies. We have restructured, modernized and, in some cases, partially renewed many areas," explained Klaus-Peter Müller in his speech to shareholders. The acquisition of Eurohypo significantly boosted Commerzbank?s presence. Together, these developments form a good, solid basis for further growth, potentially through strategically viable acquisitions.