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Commerzbank AG
XMUN:CBK

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Commerzbank AG
XMUN:CBK
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Price: 35.55 EUR -1.09%
Market Cap: €25.1B

Commerzbank AG
Investor Relations

Commerzbank AG is a German commercial bank that serves both companies and individual customers. It offers everyday banking, savings products, mortgages, business loans, trade finance, payment services, and foreign exchange services. For larger clients, it also helps with capital markets, interest-rate and currency risk management, and other corporate finance needs. The bank makes money mainly by charging interest on loans, earning fees for payment, account, and advisory services, and taking spreads on deposit and funding activities. Its main customers are small and medium-sized businesses, larger corporate clients, and retail customers in Germany, with some international business tied to German trade and commerce. What sets Commerzbank apart is its role as a relationship bank for the German economy, especially for export-oriented companies and mid-sized firms that need both lending and trade-related services. It sits between ordinary deposit-taking banks and specialized capital markets firms, giving it a mix of stable banking income and fee-based corporate services.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 8, 2026
AI Summary
Q1 2026

Record quarter: Commerzbank posted record Q1 net profit of EUR 913 million on revenues of EUR 3.2 billion, with broad-based revenue growth and strong operating leverage.

Outlook raised: Management lifted 2026 guidance to at least EUR 3.4 billion in net result, about EUR 13.2 billion in revenues, and a cost/income ratio of roughly 53%.

Capital returns: The bank reaffirmed a 100% payout policy after AT1 coupons until CET1 reaches 13.5%, and said it expects around EUR 3.2 billion of payout in 2026.

Momentum 2030: New long-term targets call for a 21% RoTE, EUR 5.9 billion net result, a 43% cost/income ratio, and 6% revenue CAGR by 2030.

AI and efficiency: Management plans about EUR 600 million of cumulative AI investment through 2030 and roughly 3,000 gross FTE reductions, with around EUR 450 million of restructuring costs.

UniCredit pushback: Bettina Orlopp strongly argued Commerzbank is undervalued, said the offer lacks a premium, and stressed the bank’s international franchise and standalone upside.

Key Financials
Revenue
EUR 3.2 billion
Net result
EUR 913 million
Operating result
EUR 1.4 billion
Return on tangible equity
12.7%
Cost/income ratio
53%
CET1 ratio
14.5%
Net commission income
up 9% year on year
Net interest income
broadly stable in Q1
Corporate client loan growth
almost EUR 17 billion
Q1 corporate loan growth
EUR 5 billion
Risk result
EUR 142 million
Nonperforming exposure ratio
1.1%
Payout ratio
100%
2026 payout
EUR 3.2 billion
AI investment
approximately EUR 600 million
AI value creation
EUR 500 million per year
FTE reduction
3,000 gross FTEs
Restructuring costs
around EUR 450 million
2028 RoTE target
17%
2030 RoTE target
21%
2030 net result target
EUR 5.9 billion
2030 revenue CAGR
6%
2030 cost/income ratio target
43%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael Harald Kotzbauer
Deputy CEO, Head of Corporate Clients Business & Deputy Chairman of the Board of MD
No Bio Available
Magistrate Thomas Schaufler CEFA
Member of the Board of Managing Director - Small-Business Customers
No Bio Available
Ms. Sabine Mlnarsky-Bstandig
Chief Human Resources Officer, Labour Relations Director & Member of Board MD
No Bio Available

Contacts

Address
HESSEN
Frankfurt
Kaiserplatz 16
Contacts
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