Commerzbank Aktiengesellschaft / Miscellaneous - Urgent Priority
Commerzbank: Preliminary CET 1 ratio per end of June 2016 at 11.5% - group
net profit for the second quarter 2016 in line with consensus
25-Jul-2016 / 21:41 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.
On the basis of preliminary figures Commerzbank posted an Operating profit
of EUR342 million (Q2 2015: EUR419 million). Net profit attributable to
Commerzbank shareholders stood at EUR209 million in the second quarter 2016
(Q2 2015: EUR307 million). Both are in line with consensus.
The Common Equity Tier 1 ratio (CET 1) under full application of Basel 3
stood at 11.5% at the end of June 2016 (end of March 2016: 12.0%; end of
June 2015: 10.5%) based on preliminary figures. This ratio includes a
dividend accrual of 10 cents per share for the first half of 2016.
The change in the CET1 ratio mainly results from the following nonoperating
valuation and methodology effects: - Higher risk-weighted assets (RWA) in
particular for operational risks due to the consideration of new external
events factored in by external databases representing industrywide damage
claims of banks. - Higher pension liabilities due to lower discount factors
(reduced from 2% to 1.7%) as well as higher capital deductions from
revaluation reserves in particular driven by higher credit spreads for
Italian sovereign debt.
As already stated in the past, the capital ratio can be volatile in the
current market environment. Commerzbank's ambition remains to keep its
capital ratio under full application of Basel 3 above SREP-requirements.
Figures shown in this release are preliminary. Commerzbank will publish its
final figures for the second quarter 2016 on 2 August 2016.
Disclaimer
This release contains forward-looking statements. Forward-looking statements
are statements that are not historical facts. In this release, these
statements concern inter alia the expected future business of Commerzbank,
efficiency gains and expected synergies, expected growth prospects and other
opportunities for an increase in value of Commerzbank as well as expected
future financial results, restructuring costs and other financial
developments and information. These forward-looking statements are based on
the management's current plans, expectations, estimates and projections.
They are subject to a number of assumptions and involve known and unknown
risks, uncertainties and other factors that may cause actual results and
developments to differ materially from any future results and developments
expressed or implied by such forward-looking statements. Such factors
include the conditions in the financial markets in Germany, in Europe, in
the USA and other regions from which Commerzbank derives a substantial
portion of its revenues and in which Commerzbank holds a substantial portion
of its assets, the development of asset prices and market volatility,
especially due to the ongoing European debt crisis, potential defaults of
borrowers or trading counterparties, the implementation of its strategic
initiatives to improve its business model, particularly to reduce its ACR
portfolio, the reliability of its risk management policies, procedures and
methods, risks arising as a result of regulatory change and other risks.
Forward-looking statements therefore speak only as of the date they are
made. Commerzbank has no obligation to update or release any revisions to
the forward-looking statements contained in this release to reflect events
or circumstances after the date of this release.
Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com
25-Jul-2016 The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de/ukreg
Language: English
Company: Commerzbank Aktiengesellschaft
Kaiserstraße 16
60311 Frankfurt am Main
Germany
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE000CBK1001
WKN: CBK100
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt
(Prime Standard), Hamburg, Hanover, Munich,
Stuttgart; Regulated Unofficial Market in
Tradegate Exchange; Terminbörse EUREX; London, SIX
Category Code: MSCU
TIDM: CZB
Sequence Number: 3272
Time of Receipt: 25-Jul-2016 / 21:06 CET/CEST
End of Announcement EQS News Service
485751 25-Jul-2016
(END) Dow Jones Newswires
July 25, 2016 15:42 ET (19:42 GMT)
