Commerzbank: ECB reduces capital requirements (SREP)

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Commerzbank Aktiengesellschaft (CZB) 
Commerzbank: ECB reduces capital requirements (SREP) 
 
15-Feb-2019 / 15:48 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*- Risk and balance sheet reductions of recent years pay off* 
 
*- Pure CET 1 requirement for 2019 at 10.11%* 
 
The European Central Bank (ECB) has reduced the bank-specific capital 
requirements (Pillar 2 Requirement) for Commerzbank by 0.25 percentage 
points to 2.0% after the 2018 Supervisory Review and Evaluation Process 
(SREP). This reflects the major progress the Bank made in the improvement of 
its risk profile, including the reduction of its credit risks. 
 
The successful reduction of risk profile and balance sheet in recent years 
is also reflected in the decision of the German supervisory authority to 
keep the buffer for otherwise systemically important institutions (O-SII) at 
1.0% for 2019. The originally scheduled increase to 1.5% has been postponed. 
 
The pure Common Equity Tier 1 (CET 1) requirement for Commerzbank now stands 
at 10.11% for this year. This requirement consists of the Pillar 1 Minimum 
of 4.5%, the Pillar 2.0 Requirement of 2.0%, the Capital Conservation Buffer 
of 2.5%, the buffer for otherwise systemically important institutions 
(O-SII) of 1.0% and the Countercyclical Capital Buffer of 0.11%. With a CET1 
ratio of 12.9% at the end of 2018, Commerzbank was well above regulatory 
requirements. The Bank is targeting a CET1 ratio of at least 12.75% by the 
end of 2019. 
 
***** 
 
*Press contact* 
Nils Happich [phone] 
Erik Nebel [phone] 
 
***** 
 
About Commerzbank 
Commerzbank is a leading international commercial bank with branches and 
offices in almost 50 countries. In the two business segments Private and 
Small Business Customers and Corporate Clients, the Bank offers a 
comprehensive portfolio of financial services which is precisely aligned to 
its clients' needs. Commerzbank finances approximately 30% of Germany's 
foreign trade and is the leading finance provider for corporate clients in 
Germany. Due to its in-depth sector know-how in the German economy, the Bank 
is a leading provider of capital market products. Its subsidiaries Comdirect 
in Germany and mBank in Poland are two of the world's most innovative online 
banks. With approximately 1,000 branches, Commerzbank has one of the densest 
branch networks among German private banks. In total, Commerzbank serves 
more than 18 million private and small business customers, as well as more 
than 70,000 corporate clients, multinationals, financial service providers, 
and institutional clients worldwide. In 2018, it generated gross revenues of 
EUR8.6 billion with approximately 49,000 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, 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. 
 
ISIN:          DE000CBK1001 
Category Code: MSCU 
TIDM:          CZB 
LEI Code:      851WYGNLUQLFZBSYGB56 
Sequence No.:  7527 
EQS News ID:   776699 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

February 15, 2019 09:48 ET (14:48 GMT)