Commerzbank Aktiengesellschaft / Miscellaneous - Urgent Priority
Commerzbank: Result of the EBA Stress Test for Commerzbank
29-Jul-2016 / 22:07 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.
- *CET 1 ratio with full application of Basel 3 in the baseline scenario
13.1% (2014: 10.6%); **in the adverse scenario 7.4% (2014: 6.9%) *
- *Chief Risk Officer Chromik: 'Commerzbank is stress resistant'*
Commerzbank has attained a solid result in the Stress Test performed by the
European Banking Authority (EBA). In the baseline scenario of the Stress
Test Commerzbank has posted a Common Equity Tier 1 ratio (CET 1) of 13.1%.
In the so-called adverse scenario of the Stress Test the Common Equity Tier
1 ratio was 7.4%. Both results apply to the end of the period under
observation in 2018. These ratios already include significant 'phase-in'
effects as a result of regulatory requirements (Basel 3). These 'phase-in'
effects which amounted to 1.7% were incurred irrespective of the Stress
Test.
In the EBA Stress Test in 2014 the Common Equity Tier 1 ratio with full
application of Basel 3 for Commerzbank in the baseline scenario was 10.6%,
in the adverse scenario 6.9%. In comparison to 2014 the 2016 EBA Stress Test
was once again tightened significantly in terms of its methodology and
expanded by further risk factors.
'Commerzbank is robust and stress resistant' says Marcus Chromik, the Chief
Risk Officer of Commerzbank. 'Even under the adverse conditions of the EBA
stress scenario, the stability of the Bank would be granted. The low-risk
balance sheet and good capital ratio of Commerzbank are proof to this.'
Since the 2014 EBA Stress Test Commerzbank has run down non-strategic
portfolios by approx. 54 billion euros while preserving value, created
approx. 3.5 billion euros of balance sheet equity capital, and thus
increased the Common Equity Tier 1 ratio with full application of Basel 3 by
300 basis points from 9.0% (end of 2013) to 12.0% (end of 2015).
Under
https://www.commerzbank.de/en/hauptnavigation/aktionaere/aktuelles_2/stresst
est2016.html [1] you can find further information on the publication by the
EBA from 29 July 2016.
*****
*Press contact*
Margarita Thiel +49 69 136-46646
Alexander Cordes +49 69 136-42764
*****
About Commerzbank
Commerzbank is a leading international commercial bank with branches and
offices in more than 50 countries. The core markets of Commerzbank are
Germany and Poland. With the business areas Private Customers,
Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, its
private customers and corporate clients, as well as institutional investors,
profit from a comprehensive portfolio of banking and capital market
services. Commerzbank finances more than 30 per cent of Germany's foreign
trade and is the unchallenged leader in financing for SMEs. With its
subsidiaries Comdirect and Poland's M Bank it owns two of the world's most
innovative online banks. With approximately 1,050 branches and more than 90
advisory centres for business customers Commerzbank has one of the densest
branch networks among German private banks. In total, Commerzbank boasts
more than 16 million private customers, as well as 1 million business and
corporate clients. The Bank, which was founded in 1870, is represented at
all the world's major stock exchanges. In 2015, it generated gross revenues
of EUR9.8 billion with 51,300 employees.
*****
*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.
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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: pressestelle@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; London, SIX
Category Code: MSCU
TIDM: CZB
Sequence Number: 3283
Time of Receipt: 29-Jul-2016 / 22:02 CET/CEST
End of Announcement EQS News Service
487953 29-Jul-2016
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=609bd00542eddab08f70f78407828303&application_id=487953&site_id=vwd&application_name=news
(END) Dow Jones Newswires
July 29, 2016 16:07 ET (20:07 GMT)
