Global Banking Directory (since 2007)
Press Release Distribution Service
Add Bank | Banking Forum | Donate
  • GISEC 2019, April 1-3, 2019
  • Future Banking Technology Summit, 23-24, April, 2019
  • Investing
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Press Release :: Commerzbank

Logo CommerzbankDespite a difficult market environment in the 2011 business year, Commerzbank increased the result of its Core Bank and considerably reduced risks. At the Core Bank, which encompasses the strategically significant customer-centric business of Commerzbank, it was possible to increase the operating profit substantially to EUR 4.5 billion (2010: EUR 2.0 billion).

The revenues before loan loss provisions of the Core Bank increased by 14 % to EUR 12.4 billion (2010: EUR 10.9 billion) in the light of the stable economic situation in the core markets Germany and Poland. Despite the massive charges resulting from the European sovereign debt crisis, the Commerzbank Group attained a net profit of EUR 638 million. It was possible to lower the loan loss provisions in the Group significantly by more than 40 % to just less than EUR 1.4 billion (2010: EUR 2.5 billion), in particular due to a successful restructuring of loans.

The Private Customers segment has recovered considerably despite an ongoing difficult market environment. Mittelstandsbank again attained a very good operating profit of EUR 1.5 billion. Central & Eastern Europe was able to considerably improve its profit, in particular thanks to the record result at Poland's BRE Bank. In spite of difficult markets in the second half of 2011, Corporates & Markets attained a positive result in all four quarters.

In the typically weaker fourth quarter the Group was able to increase its net profit to EUR 316 million (2010: EUR 257 million). This includes a positive one-off effect from the repurchase of hybrid equity instruments in the amount of EUR 735 million, offset by a further write-down on Greek sovereign bonds in the amount of approximately EUR 0.7 billion and a negative effect due to the write-down of corresponding interest rate derivatives used for hedging.

"2011 was characterised for Commerzbank by a successful first six months and difficult market conditions in the second half of the year. The good operating profit of the Core Bank shows: Our customer-centric business model, which is firmly anchored in the real economy, has proved itself and is also successful in a challenging environment," said Martin Blessing, Chairman of the Board of Managing Directors of Commerzbank.

"We also attained important strategic goals in 2011: With a capital measure we have rapidly and to a large extent reduced the silent participations of SoFFin by EUR 14.3 billion. Moreover, we have further improved our capital structure and prepared the Bank for the new regulatory environment. We have implemented the integration of Dresdner Bank more quickly than planned, with the effect that in the spring of 2011 we were able to conclude the integration project after just 1,000 days. I would like to thank our employees for their commitment." The close partnership between Germany's Mittelstand and Commerzbank remains a declared strategic goal of the Bank. Martin Blessing: "We are aware of our responsibility for supplying the German economy with loans, and will continue to stand by our customers, and in particular SMEs, our large corporate customers and institutional clients, as a reliable partner."

Source: Commerzbank
Date: 24.02.2012
 Havin Bank Ltd selects ifinancial’s AMLtrac software to enhance its AML procedures

Havin Bank Ltd, the only bank with entirely Cuban capital established outside Cuba, has chosen the KYC and Document Management, Account Monitoring, Transaction Tracking, SWIFT message screening and Alert Management modules of ifinancial's AMLtrac software to strengthen the management and control of its compliance and anti-money-laundering risk. 19.11.2018 | Source: IFinancial

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: Middle East Global Advisors

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events

2007-2019 © Global Bank Directory