REG-Commerzbank Aktiengesellschaft Commerzbank has decided on new Capital Return Policy

COMMERZBANK AGAnnouncement

28/09/2023 17:30

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank has decided on new Capital Return Policy

   28-Sep-2023 / 18:21 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Commerzbank expects an increased profitability of its businesses and with
   a CET1 ratio of 13.5% a net RoTE of more than 11% by 2027. On this basis
   Commerzbank’s Board of Managing Directors has decided to update the Bank’s
   Capital Return Policy following consultation with the Supervisory Board.

   For 2022 to 2024 Commerzbank intends to return €3bn to shareholders as
   dividends and share buy-backs. To reach this target, the pay-out ratio
   will be at least 70% for 2024.

   For the years 2025 to 2027 Commerzbank aims for a pay-out ratio well above
   50% but not more than the net result after AT1 coupon payments and
   minorities. The pay-out is dependent on the economic development and
   business opportunities. Prerequisite for a dividend is a CET1 ratio of at
   least MDA + 250bp after distribution. Additional prerequisite for a share
   buy-back is a CET1 ratio of at least 13.5% after distribution.

   Each year the AGM decides on the dividend. Additional prerequisite for a
   share buy-back is the approval of the ECB and the German Finanzagentur.

   The full, revised Capital Return Policy will shortly be available on our
   website.

   (https://investor-relations.commerzbank.com/capital-return-policy/)

   The business plan for the years 2024 to 2027 will be published on the
   Capital Markets Update on 8 November 2023.

    

   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: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  274698
   EQS News ID:   1737429


    
   End of Announcement EQS News Service

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