REG-Commerzbank Aktiengesellschaft Commerzbank Aktiengesellschaft: ECB determines SREP P2R capital requirement for Commerzbank for 2024

COMMERZBANK AGAnnouncement

08/12/2023 18:30

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank Aktiengesellschaft: ECB determines SREP P2R capital
   requirement for Commerzbank for 2024

   08-Dec-2023 / 19:26 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Ad hoc release   08 December 2023

   ECB determines SREP P2R capital requirement for Commerzbank for 2024

   In the annual Supervisory Review and Evaluation Process (SREP) the
   European Central Bank has determined the bank-specific capital
   requirements for the Commerzbank Group in 2024. The additional own funds
   requirement for Pillar 2 (P2R) slightly increases by 25 bp to 2.25% of
   total capital, of which at least 1.27% must be covered with Common Equity
   Tier 1 (CET1) capital. The SREP decision replaces the previous SREP
   decision with effect from 1 January 2024.

   As of 30 September 2023, the pro forma CET1 requirement for Commerzbank
   Group amounts to 10.27% of risk weighted assets (MDA threshold) when
   applying the new SREP decision. The requirement consists of the CET1
   minimum requirement of 4.5%, the P2R of 1.27%, the capital conservation
   buffer of 2.5%, the capital buffer for otherwise systemically important
   institutions of 1.25%, the countercyclical capital buffer of currently
   0.63%, the sectoral systemic risk buffer of currently 0.1% and an AT1
   shortfall of currently 0.02%.

   With a CET1 ratio of 14.6% as of September 2023 Commerzbank is well above
   the MDA threshold. The requirements are reflected in Commerzbank’s
   strategic planning as well as in the target equity ratio of 13.5%.

    

   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 9353 10080
   e-mail:ir@commerzbank.com

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   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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   ISIN:           DE000CBK1001
   Category Code:  MSCM
   TIDM:           CZB
   LEI Code:       851WYGNLUQLFZBSYGB56
   OAM Categories: 2.2. Inside information
   Sequence No.:   290958
   EQS News ID:    1793415


    
   End of Announcement EQS News Service

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