Commerzbank AG — Earnings Release 2009

Nov 25, 2009

News Details

UK Regulatory | 25 November 2009 09:04

Commerzbank: Revenue and earnings targets of ‘Roadmap 2012’ reaffirmed

Commerzbank AG / Forecast/Strategic Company Decision

25.11.2009

Dissemination of a UK Regulatory Announcement, transmitted by
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The issuer is solely responsible for the content of this announcement.

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Commerzbank: Revenue and earnings targets of 'Roadmap 2012' reaffirmed

• Blessing: 'We are progressing well and implementing our strategy
  consistently'

At today's Investors' Day, Commerzbank reaffirmed its targets for 2012. 'We
are progressing well and the 'Roadmap 2012' targets remain unchanged,' said
Martin Blessing, Chairman of the Board of Managing Directors of
Commerzbank. 'We are implementing our strategy consistently and in some
areas more quickly than originally planned. This is also a response to the
challenges of the financial market crisis.'

In 2009, crisis-related charges (loan loss provisions and portfolio
impairments) are expected to be considerably lower than planned. There
have, however, been some shifts between the items, also as a consequence of
setting up the Portfolio Restructuring Unit. 'In 2010 we will continue to
see charges from the financial market crisis, but these will decrease
further. For 2012 we expect loan loss provisions of some EUR 2 billion,'
said Stefan Schmittmann, Member of Commerzbank's Board of Managing
Directors and responsible for risk management.

'Gross revenues in 2012 are set to be just below EUR 14 billion; total
costs are expected to be below EUR 8 billion. This gives us the basis for
an operating result of more than EUR 4 billion and thus for an after-tax
return in excess of 12%' said Eric Strutz, Member of the Board of Managing
Directors of Commerzbank and CFO.

Commerzbank expects cost synergies of some EUR 2.4 billion per annum from
the Dresdner Bank take-over, i.e. EUR 500 million p.a. in excess of what
was originally planned. These cost synergies will be effective in full from
2013 onwards. The reasons for this are further savings in processing,
office costs, and economies of scale in procurement. Additionally, the
greater focus already applied in the capital market-related areas
contributes to this.

As a result, one-off charges from the realisation of the synergies will
increase by some EUR 500 million. 'We invest EUR 500 million once and save
an additional EUR 500 million year by year. A worthwhile investment', said
Strutz. The costs of the integration total some EUR 2.5 billion.

Press contact:

Reiner Roßmann: +49 69 1 36 4 66 46
Simone Fuchs: +49 69 1 36 4 49 10

Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com

25.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: 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
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Frankfurt (Prime
Standard), München, Hannover, Düsseldorf, Hamburg,
Stuttgart; Terminbörse EUREX; Foreign Exchange(s)
London, SWX
Category Code: MER
LSE Ticker: CZB
Sequence Number: 335
Time of Receipt: Nov 25, 2009 09:00:45

End of News DGAP News-Service

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