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Commerzbank AG Interim / Quarterly Report 2013

Nov 8, 2013

81_rns_2013-11-08_1841be5f-9e80-4d29-a41a-b389043cb77e.pdf

Interim / Quarterly Report

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Commerzbank with strengthened capital ratios Group figures

Commerzbank – Figures, Facts, Targets

Investor Relations

3rd Quarter 2013

Authorised by "Bundesanstalt für Finanzdienstleistungsaufsicht" and by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business.

This publication appears four times a year to accompany the quarterly results and the annual financial statements.

This publication can also be found on Commerzbank's website, in German and English.

German: www.commerzbank.de Investor Relations Investor Relations Publikation English: www.commerzbank.com Investor Relations Investor Relations Publication

Completed on November 6, 2013

Commerzbank – Figures, Facts, Targets

Content

Commerzbank financials
at a glance
Group operating result of €103m
in Q3 2013 ______ 2
Group operating result reflects
sale of UK CRE-portfolio
Profit per quarter ________ 3
Commerzbank Group's
income statement
Net interest income/
Net trading income ______ 4
Loan loss provisions
by segment
Loan loss provisions ____ 5
Breakdown of net
commission income
Operating expenses _____ 6
Profitability ratios
Development of business volumes ______ 7
Claims on customers
Probability of Default-Rating _____ 8
Breakdown of assets
Breakdown of liabilities ___ 9
Revaluation reserve
RWA, Tier 1 capital ratio,
total capital ratio and
core Tier 1 capital ratio __ 10
Commerzbank is more resilient
than before Dresdner Bank acquisition
New strategic agenda ___ 11
Segment structure
of Commerzbank Group
Operating profit by segment ____ 12
Segment reporting
Value drivers ____ 13
Private Customers
Mittelstandsbank _______ 14
Central & Eastern Europe
Corporates & Markets ___ 15
Non-Core Assets
New brand promise:
"The bank at your side" __ 16
Group equity definitions
Average capital employed within
Commerzbank Group ___ 17
Basel III CET 1 comfortably
above 9% under phase-in
Optimise capital allocation ______ 18
Capital market funding
Key figures of Commerz
bank share _____ 19
Commerzbank's shareholders
Equity and market capitalisation _ 20
Performance of the
Commerzbank share
Trading volume of the
Commerzbank share ____ 21
Offices of Commerzbank
Group worldwide
Personnel data ________ 22

All figures – if not stated otherwise – according to IAS/IFRS

Commerzbank financials at a glance

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1) Attributable to Commerzbank shareholders

Group operating result of €103m in Q3 2013 - Sale of €5bn UK CREportfolio completely reflected in P&L and balance sheet

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Q3 2013 vs. Q2 2013

  • -Group revenues almost stable despite faster run-down in interest earning assets in NCA
  • LLP benefits from lower LLP level in NCA CRE (Q2 2013 including UK CRE sale)
  • Operating costs for the second consecutive quarter below €1.7bn shows ongoing progress on cost management
  • Significant de-risking in NCA by €12bn across all business units

1) Incl. sale of UK CRE-portfolio with P/L charges of €179m as communicated (Q2 2013: €134m LLP; Q3 2013 €-45m revenues) 2) Consolidated result attributable to Commerzbank shareholders

Profit per quarter

Commerzbank Group, in € m

1) attributable to CBK's shareholders; 2) Prior-year figures restated due to first-time application of the amended IAS 19

Commerzbank Group's income statement

1.
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1) Prior-year figures restated due to first-time application of the amended IAS 19 and other disclosure changes

Net interest income/Net trading income

Commerzbank Group, in € m

1) Prior-year figures restated due to first-time application of the amended IAS 19 and other disclosure changes

Loan loss provisions by segment

Commerzbank Group, in € m

Loan loss provisions

Commerzbank Group, in € m

Breakdown of net commission income

Commerzbank Group, in € m

1) Prior-year figures restated due to disclosure changes

Operating expenses

Commerzbank Group, in € m

1) Prior-year figures restated due to first-time application of the amended IAS 19 and other disclosure changes

Profitability ratios

in %

1) Prior-year figures restated due to first-time application of the amended IAS 19 and other disclosure changes

Development of business volumes

Commerzbank Group, in € bn

1) after provisions; 2) Prior-year figures restated due to first-time application of the amended IAS 19

Claims on customers1)

Commerzbank Group

Probability of Default-Rating of Commerzbank

as of 30.09.2013, in %

1) Reduction of R1-portfolio in CEE predominantly based on rating restatement for Poland

Breakdown of assets

Commerzbank Group, in € m

Balance-sheet total

1) after provisions; 2) Prior-year figures restated due to first-time application of the amended IAS 19

Breakdown of liabilities

Commerzbank Group, in € m

1) Prior-year figures restated due to first-time application of the amended IAS 19

in € bn

RWA, Tier I capital ratio, total capital ratio and core Tier I capital ratio

1) The core Tier I capital ratio is the ratio of core Tier I capital (ordinary shares, retained earnings and silent participations) to risk-weighted assets

Commerzbank is more resilient than before Dresdner Bank acquisition

1) Commerzbank stand-alone figures; segmental structure as at year-end 2009

Taking into account the changed market environment, Commerzbank sets up its new strategic agenda

Segment structure of Commerzbank Group

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Operating profit by segment1)

in € m

2) transferred to C&M 1) Prior-year figures restated due to first-time application of the amended IAS 19 and other disclosure changes

Segment reporting

Commerzbank Group, 1.1.-30.9.2013, in € m

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New brand promise: "The bank at your side"

Group equity definitions

R
il
i
ti
f
it
d
fi
it
i
e
c
o
n
c
a
o
n
o
e
q
e
n
o
n
s
u
y		 E it
q
u		 f
b
i
R
E
y
a
s
s
o
r
o
E
ui
t
d
fi
ni
ti
in
€
q
y
e
o
n
s
m		 Q
3
2
0
1
3
E
d
f
ri
d
n
o
p
e
o		 9
M
A
v
e
r
a
g
e
S
b
ri
b
d
pi
ta
l
u
s
c
e
c
a		 1,
1
3
9		 2,
9
5
9
C
pi
ta
l r
a
e
s
e
rv
e		 1
9
3
8
5,		 1
2,
8
6
0
R
et
ai
d
in
n
e
e
a
rn
g
s		 1
0,
7
0
0		 1
0,
8
3
8
Si
le
nt
rti
ci
at
io
S
F
Fi
n/
A
lli
p
a
p
n
s
o
a
n
z		 0 1,
1
8
8
C
sl
io
tr
at
rr
e
n
c
a
n
n
re
s
e
rv
e
u
y		 -1
8
0		 -1
4
8
1)
C
&
ol
id
at
d
P
L
o
n
s
e		 2
6		 3
8
In
s'
C
pi
al
it
h
ol
li
i
t
t
t
tr
t
t
v
e
s
o
r
a
w
o
u
n
o
n
c
o
n
n
g
n
e
r
e
s
s
-		 2
7,
6
2
3		 2
7,
7
3
5		 B
si
f
R
E
t
fi
t
a
s
o
r
o
o
n
n
e
p
r
o
2)
N
lli
in
(I
F
R
S
)
nt
te
st
o
n-
c
o
ro
n
g
re
s		 8
9
5		 8
5
5
In
t
s'
C
pi
t
al
v
e
s
o
r
a		 2
8,
5
1
8		 2
8,
5
9
0		 B
si
f
ti
R
E
d
-t
R
E
a
s
o
r
o
p
e
r
a
n
g
o
a
n
p
r
e
a
x
o
C
pi
ta
l
d
d
ct
io
d
ill
d
ot
h
dj
st
nt
a
e
u
n
s,
g
o
o
w
a
n
e
r
a
u
m
e
s		 3,
6
1
5
-
B
el
II
pi
t
al
it
h
t
h
b
ri
d
pi
t
al
a
s
c
o
r
e
c
a
w
o
u
y
c
a		 2
4,
9
5
7
H
b
ri
d
pi
l
ta
c
a
y		 8
1
6
B
el
II
Ti
r I
pi
t
al
a
s
e
c
a		 2
3
5,
7
7

1) After deduction of distribution to silent participants; 2) excluding: Revaluation reserve and cash flow hedges

Average capital employed within Commerzbank Group

Average, 1.1.-30.9.2013

Note: estimated impacts as of Q3 2013, numbers may not add up due to rounding

Optimise capital allocation: RWA reduction in NCA results in significantly improved capital allocation in 2016

1) figures according to current NCA structure

Commerzbank issues Pfandbriefe to reduce funding costs and diversify funding structure

Senior Unsecured

  • Focus on private placements
  • €1.9bn senior unsecured funding until Q3 2013

Subordinated Bond

USD 1.0bn lower Tier 2 (144a/Reg S) in Q3 2013

Covered Bonds

  • Two inaugural covered bonds issued until Q3 2013 with attractive funding levels to reduce overall funding costs
  • €500m 5Y inaugural SME structured covered bond as innovative structure to refinance SME business
  • First Pfandbrief of Commerzbank AG; €500m 5Y public-sector Pfandbrief to refinance guaranteed export finance business of MSB
  • In October 2013: First Mortgage Pfandbrief of Commerzbank AG; €500m 7Y at Euro MS flat to refinance PC loan business

Key figures of Commerzbank share

1) result for the quarter on accumulative basis; 2) Prior-year figures restated due to first-time application of the amended IAS 19;

3) prior-year figures restated due to 10:1 reverse stock split

Commerzbank's shareholders

as of 30.09.2013

Equity and market capitalisation

Commerzbank Group, in € bn

1) as shown in balance-sheet; 2) Prior-year figures restated due to first-time application of the amended IAS 19

Performance of the Commerzbank share

Month-end figures, January 2011 = 100

Trading volume1) of the Commerzbank share

in € bn

1) Xetra, Xetra Frankfurt Specialist, Tradegate, source: Deutsche Börse

Offices of Commerzbank Group wordwide

as of 30.9.2013

Personnel data

1)
C
b
k
G
o
m
m
e
r
z
a
n
r
o
u
p		 2
0
1
0		 2
0
1
1		 2
0
1
2		 3
0
9
2
0
1
3
E
l
m
p
o
y
e
e
s		 5
9
,1
0
1		 5
8
,1
6
0		 5
3
6
0
1
,		 5
3
6
4
9
,
G

i
n
e
r
m
a
n
y		 4
5
3
0
1
,		 4
4
4
7
4
,		 4
2
8
5
7
,		 4
1
8
0
4
,

b
d
a
r
o
a		 1
3
8
0
0
,		 1
3
6
8
6
,		 1
0
7
4
4
,		 1
1
8
4
5
,

1) year-end figures

Disclaimer

Reservation regarding forward-looking statements

This publication contains forward-looking statements on Commerzbank's business and earnings performance, which are based upon our current plans, estimates, forecasts and expectations. The statements entail risks and uncertainties, as there are a variety of factors which influence our business and to a great extent lie beyond our sphere of influence. Above all, these include the economic situation, the state of the financial markets worldwide and possible loan losses. Actual results and developments may, therefore, diverge considerably from our current assumptions, which, for this reason, are valid only at the time of publication. We undertake no obligation to revise our forward-looking statements in the light of either new information or unexpected events.

2014 Financial Calendar

February 13, 2014 Annual Results Press Conference
End-March 2014 Annual Report 2013
May 8, 2014 Annual General Meeting
May 9, 2014 Interim Report as of March 31, 2014
August 7, 2014 Interim Report as of June 30, 2014
November 6, 2014 Interim Report as of September 30, 2014

Commerzbank AG Head Office Kaiserplatz Frankfurt am Main

www.commerzbank.com

Postal address 60261 Frankfurt am Main

Group Management

Investor Relations Tel. +49 (0)69 / 136-2 22 55 Fax +49 (0)69 / 136-2 94 92

Mail [email protected]

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