Press Release Press Release


June 07, 2011

Commerzbank: Capital measure raises an aggregate amount of EUR 11 billion


  • Second step of capital measure: Rights issue totalling approximately EUR 5.3 billion
  • Approximately EUR 14.3 billion silent participations of SoFFin are redeemed
  • Martin Blessing: "We are redeeming the silent participations ahead of schedule"
  • Eric Strutz: "We are strengthening our Equity Tier 1 capital and are well prepared for Basel III"

Commerzbank has successfully completed the second step of the capital measure totalling EUR 11 billion that it announced on April 6, 2011. Together with the additional amount of approximately EUR 3.3 billion from excess regulatory capital, Commerzbank is thus redeeming an aggregate amount of EUR 14.3 billion of the silent participations of the Financial Market Stabilisation Fund (SoFFin) through both steps of the capital measure. Within the context of the rights issue announced on May 22, 2011, the Bank has issued a total of 2,435,695,761 new shares, carrying full dividend rights from January 1, 2011. The subscription price amounted to EUR 2.18. Correspondingly, proceeds totalling approximately EUR 5.3 billion were raised. The holders of subscription rights exercised 99.94 % of the subscription rights. 2,434,302,992 new shares were available for subscription. The 1,531,830 not subscribed shares and the residual share amount of 1,392,769 new shares resulting from the application of the subscription ratio have been sold in the market.

"Today, we have finalised the capital measure announced in April 2011 as planned. This allows us to redeem the silent participations ahead of schedule and to a large extent," said Martin Blessing, Chairman of the Board of Managing Directors of Commerzbank. "This was made possible by our functioning business model and the operating profitability of the Bank. The targets of our strategic programme 'Roadmap 2012' remain in place. In addition, thereafter we intend to bring about a further clear increase in profit."

Eric Strutz, CFO of Commerzbank, said: "With the successfully completed capital measure, we are further strengthening our Equity Tier 1 capital in a sustainable and long-term way. We are accordingly well prepared for Basel III. At March 31, 2011, our Core Tier 1 ratio amounted to 9.7 % on a pro forma basis and the Equity Tier 1 ratio amounted to 9.0 %. This includes the profit from the first quarter of 2011, the SoFFin one-off payment, and the transaction costs of the capital measure."

The capital increase was registered in the commercial register (Handelsregister) on June 6, 2011. Today, the new shares will be included in stock exchange trading for the first time. SoFFin is receiving the proceeds raised on the capital market via this step totalling approximately EUR 4.0 billion. Moreover, SoFFin has, as agreed, participated in the rights issue to the full extent to maintain its stake in the share capital of Commerzbank of 25% plus one share. Correspondingly, SoFFin has contributed approximately EUR 1.3 billion of its silent participations against the subscription for new shares. In total, the number of shares issued by Commerzbank amounts to 5,113,429,053 after the closing of the capital measure.

The capital increase with rights issues marked the second step of the capital measure to largely redeem SoFFin¿s silent participations. In the first step of the capital measure in April and May 2011, Commerzbank had already raised proceeds of approximately EUR 5.7 billion. Overall, Commerzbank is reducing SoFFin¿s silent participations, which formerly totalled EUR 16.2 billion, by approximately EUR 14.3 billion. The Bank intends to repay the remaining silent participations of approximately EUR 1.9 billion from future excess regulatory capital by 2014 at the latest.

Press contact:
Reiner Rossmann +49 69 136 46646
Nils Happich +49 69 136 44986


About Commerzbank

Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has above 60 sites in 50 countries and serves more than 14 million private customers as well as one million business and corporate customers worldwide. In 2010 it posted gross revenues of EUR 12.7 billion with some 59,100 employees.



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