Commerzbank AG — Earnings Release 2007

Nov 6, 2007

News Details

Ad-hoc | 6 November 2007 13:33

Commerzbank AG: Martin Blessing to succeed Klaus-Peter Müller

Commerzbank AG / Quarter Results/Change of Personnel

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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• Martin Blessing to succeed Klaus-Peter Müller

• Quarter 3, 2007: Operating profit of EUR 361 million and consolidated
surplus of EUR 339 million

• EUR 291 million impairment on US subprime exposure

• Management Board confirms target set for 2007 and expects return on
equity after tax of more than 15%

The Supervisory Board of Commerzbank has at its today’s meeting complied
with the request of Chairman of the Board , Klaus-Peter Müller (63) to
release him from his office with effect from the end of the next Annual
General Meeting on May 15, 2008. At the same time the Board invited him to
stand for election to the Supervisory Board. Martin Blessing (44) was
appointed as successor to Chairman of the Board of Managing Directors.

In his presentation to the Supervisory Board Klaus-Peter Müller reported
an operating profit for quarter 3, 2007 of EUR 361 million (+ 7% compared
to quarter 3, 2006). The consolidated surplus at EUR 339 million, was due
to the activation of tax loss carry-forwards 56% higher than the previous
year’s figure. Included in these figures are one-off write downs of EUR 291
million on the US subprime portfolio amounting to EUR 1.2 billion in total.

After nine months, Commerzbank is well above the figures for the equivalent
period of the previous year both in terms of the operating profit (+17%)
and the consolidated surplus ( + 38%). The bank therefore confirms its
target of a return on equity after tax of more than 15% (clean more than
12%) for 2007.
06.11.2007 Financial News transmitted by DGAP

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Language: English
Issuer: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Hannover, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, SWX

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