REG-Commerzbank Aktiengesellschaft Commerzbank Aktiengesellschaft: Preliminary operating profit for the first quarter 2022 at €544 million - above expectations due to higher revenues despite increased risk result

COMMERZBANK AGAnnouncement

26/04/2022 17:30

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank Aktiengesellschaft: Preliminary operating profit for the first
   quarter 2022 at €544 million - above expectations due to higher revenues
   despite increased risk result

   26-Apr-2022 / 18:16 CET/CEST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Based on preliminary figures, Commerzbank posted an operating profit of
   €544 million for the first quarter 2022 (Q1 2021: €538 million). This
   exceeds the analyst consensus of the operating result of €282 million. The
   net result after taxes and minorities reached €284 million in the first
   quarter of 2022.

   Revenues increased by 12% to €2,795 million (Q1 2021 €2,492 million,
   analyst consensus €2,308 million). The net interest income increased 12%
   to €1,401 million (Q1 2021 1,254 million, analyst consensus €1,278
   million). The net commission income increased 2% to €972 million (Q1 2021
   €951 million, analyst consensus €932 million).

   The risk result was minus €464 million (Q1 2021 €149 million, analyst
   consensus €262 million) and includes a top level adjustment (TLA) of €334
   million for expected impacts of the Russia-Ukraine war. At the end of Q1,
   overall TLAs stood at €713 million (Q4 2022 €523 million).

   Commerzbank continues to expect a net result of more than €1 billion for
   the financial year 2022 and confirms all other 2022 financial targets.

   Figures shown in this release are preliminary. Commerzbank will publish
   its final figures for the first quarter 2022 on 12 May 2022.

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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.:   157781
   EQS News ID:    1336039


    
   End of Announcement EQS News Service

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