REG-Commerzbank Aktiengesellschaft Additional provisions for CHF loan portfolio at mBank of €490m – Commerzbank’s result impacted by corresponding amount; nevertheless, more than €1bn net result expected for 2022

COMMERZBANK AGAnnouncement

27/09/2022 17:15

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   Commerzbank Aktiengesellschaft (CZB)
   Additional provisions for CHF loan portfolio at mBank of €490m –
   Commerzbank’s result impacted by corresponding amount; nevertheless, more
   than €1bn net result expected for 2022

   27-Sep-2022 / 18:06 CET/CEST
   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   mBank in Poland will additionally provision PLN 2,336 million (appr. €490
   million) for its CHF loan portfolio in Q3.

   Commerzbank’s third quarter operating result is expected to be burdened by
   a corresponding amount which will be booked as negative revenues in “Other
   net income”. Nevertheless, Commerzbank still expects a net result of more
   than €1 billion for the financial year 2022, assuming that the economic
   consequences of the geopolitical developments do not deteriorate
   significantly and the uncertainties around energy supply do not require
   material additional provisions for potential future credit losses.

    

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   Disclaimer

   This release contains forward-looking statements. Forward-looking
   statements are statements that are not historical facts. In this release,
   these statements concern inter alia the expected future business of
   Commerzbank, efficiency gains and expected synergies, expected growth
   prospects and other opportunities for an increase in value of Commerzbank
   as well as expected future financial results, restructuring costs and
   other financial developments and information. These forward-looking
   statements are based on the management’s current plans, expectations,
   estimates and projections. They are subject to a number of assumptions and
   involve known and unknown risks, uncertainties and other factors that may
   cause actual results and developments to differ materially from any future
   results and developments expressed or implied by such forward-looking
   statements. Such factors include the conditions in the financial markets
   in Germany, in Europe, in the USA and other regions from which Commerzbank
   derives a substantial portion of its revenues and in which Commerzbank
   holds a substantial portion of its assets, the development of asset prices
   and market volatility, especially due to the ongoing European debt crisis,
   potential defaults of borrowers or trading counterparties, the
   implementation of its strategic initiatives to improve its business model,
   the reliability of its risk management policies, procedures and methods,
   risks arising as a result of regulatory change and other risks.
   Forward-looking statements therefore speak only as of the date they are
   made. Commerzbank has no obligation to update or release any revisions to
   the forward-looking statements contained in this release to reflect events
   or circumstances after the date of this release.

   Contact:
   Christoph Wortig
   Head of Investor Relations
   Commerzbank AG
   Investor Relations
   Tel.: +49 69 136 - 21331
   e-mail:ir@commerzbank.com

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   ISIN:           DE000CBK1001
   Category Code:  MSCU
   TIDM:           CZB
   LEI Code:       851WYGNLUQLFZBSYGB56
   OAM Categories: 2.2. Inside information
   Sequence No.:   190830
   EQS News ID:    1451505


    
   End of Announcement EQS News Service

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