Commerzbank successfully completes share buyback of EUR600 million

DJ Commerzbank successfully completes share buyback of EUR600 million

Commerzbank Aktiengesellschaft (CZB) 
Commerzbank successfully completes share buyback of EUR600 million 
05-March-2024 / 18:51 CET/CEST 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
   -- In total 55,554,320 own shares repurchased (4.48% of the share capital) 
   -- CFO Bettina Orlopp: "The success reinforces our intention to continue a combination of share buybacks and 
  dividend payments when it comes to capital return." 
Today, Commerzbank AG successfully completed its share buyback programme. The second programme of its history started 
on 10 January. Since then, the Bank has bought back a total of 55,554,320 of its own shares (ISIN DE000CBK1001) in the 
amount of around EUR600 million at an average price of around EUR10.80 per share. This corresponds to 4.48% of the Bank's 
share capital. The repurchased shares will be redeemed in a timely manner. 
"The completion of the second share buyback programme is an important step for Commerzbank", said CFO Bettina Orlopp. 
"The success reinforces our intention to continue a combination of share buybacks and dividend payments when it comes 
to capital return." 
The now completed share buyback programme complements the planned dividend payment of around 35 cents per share for the 
2023 financial year - subject to the approval of the Annual General Meeting at the end of April. Meaning the Bank will 
return a total of around EUR1 billion to its shareholders. This corresponds to 50% of the net profit after deduction of 
the AT1 coupon payments. For the 2024 financial year, the Bank targets a payout ratio of at least 70%, but not more 
than the net result after deduction of AT1 coupon payments. 
With its first share buyback programme, Commerzbank repurchased a total of 12,134,305 of its own shares at an average 
price of around EUR10.05 per share equalling an amount of EUR122 million in June 2023. The buyback was part of the capital 
return for the 2022 financial year amounting to a total of around EUR370 million. 
 
Press contact 
Kathrin Jones [phone] 
Svea Junge [phone] 
Investor contact 
Ute Sandner [phone] 
Michael Klein [phone] 
 
About Commerzbank 
Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 25,500 corporate client 
groups and almost 11 million private and small-business customers in Germany. The Bank's two Business Segments - 
Private and Small-Business Customers and Corporate Clients - offer a comprehensive portfolio of financial services. 
Commerzbank transacts approximately 30 per cent of Germany's foreign trade and is present internationally in more than 
40 countries in the corporate clients' business. The Bank focusses on the German Mittelstand, large corporates, and 
institutional clients. As part of its international business, Commerzbank supports clients with a business relationship 
to Germany, Austria, or Switzerland and companies operating in selected future-oriented industries. In the Private and 
Small-Business Customers segment, the Bank is at the side of its customers with its brands Commerzbank and comdirect: 
online and mobile, in the advisory centre, and personally in its branches. Its Polish subsidiary mBank S.A. is an 
innovative digital bank that serves approximately 5.8 million private and corporate customers, predominantly in Poland, 
as well as in the Czech Republic and Slovakia. 
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. 
 
=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
ISIN:     DE000CBK1001 
Category Code: MSCU 
TIDM:     CZB 
LEI Code:   851WYGNLUQLFZBSYGB56 
Sequence No.: 307825 
EQS News ID:  1852119 
 
End of Announcement EQS News Service 
=------------------------------------------------------------------------------------
 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1852119&application_name=news

(END) Dow Jones Newswires

March 05, 2024 12:51 ET (17:51 GMT)