REG-Commerzbank Aktiengesellschaft Commerzbank completes share buyback of €600 m – Second tranche of up to €400 m applied for

COMMERZBANK AGAnnouncement

21/01/2025 09:00

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank completes share buyback of €600 m – Second tranche of up to
   €400 m applied for

   21-Jan-2025 / 09:58 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • 38,837,806 shares in total repurchased (3.278% of share capital)
     • CEO Bettina Orlopp: “The completion of the first tranche is an
       important step towards our target of returning at least 70% of our net
       result to our shareholders for the 2024 financial year.”

   Commerzbank AG successfully completed the first tranche of its third share
   buyback programme on Monday, 20 January 2025. The Bank began the buyback
   on 7 November 2024. Since then, Commerzbank has repurchased a total of
   38,837,806 of its own shares (ISIN DE000CBK1001) in the amount of around
   €600 m at an average price of around €15.45 per share. This corresponds to
   3.278% of the Bank’s share capital.

   “The completion of the first tranche of €600 m is an important step
   towards our target of returning at least 70% of our net result to our
   shareholders for the 2024 financial year,” said Commerzbank CEO Bettina
   Orlopp. “We have already applied for approval to the European Central Bank
   and the German Finance Agency for a second tranche of up to €400 m. In the
   coming years, we aim to further increase the capital return to our
   shareholders.”

   For the 2024 financial year, the capital return will include a dividend as
   well as the share buyback consisting of two tranches.

   With a planned volume of up to €1 bn, the third buyback programme is the
   largest in Commerzbank’s history. As part of its first share buyback
   programme, the Bank repurchased a total of 12,134,305 shares for around
   €122 m at an average price of around €10.05 per share in June 2023. The
   buyback was part of the capital return for the 2022 financial year,
   amounting to a total of around €370 m. Commerzbank carried out the second
   share buyback programme between 10 January and 5 March 2024. During this
   period, the Bank repurchased a total of 55,554,320 shares with a volume of
   around €600 m at an average price of around €10.80 per share. The second
   buyback was part of the capital return for the 2023 financial year,
   amounting to a total of around €1 bn.

    

   Press contact
   Svea Junge  +49 69 9353-45691
   Kathrin Jones  +49 69 9353-45687

   Investor contact
   Ute Sandner  +49 69 9353-47708
   Michael Klein  +49 69 9353-47703

    

   About Commerzbank
   Commerzbank is the leading bank for the German Mittelstand and a strong
   partner for around 25,500 corporate client groups. In addition, it
   supports private and small-business customers in Germany with more than
   €400 bn assets under management. The Bank’s two Business Segments –
   Private and Small-Business Customers and Corporate Clients – offer a
   comprehensive portfolio of financial services. Commerzbank transacts
   approximately 30% of Germany’s foreign trade and is present
   internationally in more than 40 countries in the corporate clients’
   business. The Bank focusses on the German Mittelstand, large corporates,
   and institutional clients. As part of its international business,
   Commerzbank supports clients with a business relationship to Germany,
   Austria, or Switzerland and companies operating in selected
   future-oriented industries. In the Private and Small-Business Customers
   segment, the Bank is at the side of its customers with its brands
   Commerzbank and comdirect: online and mobile, in the advisory centre, and
   personally in its branches. Its Polish subsidiary mBank S.A. is an
   innovative digital bank that serves approximately 5.7 million private and
   corporate customers, predominantly in Poland, as well as in the Czech
   Republic and Slovakia.

   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, amongst others, 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.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  371882
   EQS News ID:   2071753


    
   End of Announcement EQS News Service

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