REG-Commerzbank Aktiengesellschaft Commerzbank successfully completes share buyback of €600 million

COMMERZBANK AGAnnouncement

05/03/2024 18:00

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank successfully completes share buyback of €600 million

   05-March-2024 / 18:51 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • In total 55,554,320 own shares repurchased (4.48% of the share
       capital)
     • CFO Bettina Orlopp: “The success reinforces our intention to continue
       a combination of share buybacks and dividend payments when it comes to
       capital return.”

   Today, Commerzbank AG successfully completed its share buyback programme.
   The second programme of its history started on 10 January. Since then, the
   Bank has bought back a total of 55,554,320 of its own shares (ISIN
   DE000CBK1001) in the amount of around €600 million at an average price of
   around €10.80 per share. This corresponds to 4.48% of the Bank's share
   capital. The repurchased shares will be redeemed in a timely manner.

   “The completion of the second share buyback programme is an important step
   for Commerzbank”, said CFO Bettina Orlopp. “The success reinforces our
   intention to continue a combination of share buybacks and dividend
   payments when it comes to capital return.”

   The now completed share buyback programme complements the planned dividend
   payment of around 35 cents per share for the 2023 financial year – subject
   to the approval of the Annual General Meeting at the end of April. Meaning
   the Bank will return a total of around €1 billion to its shareholders.
   This corresponds to 50% of the net profit after deduction of the AT1
   coupon payments. For the 2024 financial year, the Bank targets a payout
   ratio of at least 70%, but not more than the net result after deduction of
   AT1 coupon payments.

   With its first share buyback programme, Commerzbank repurchased a total of
   12,134,305 of its own shares at an average price of around €10.05 per
   share equalling an amount of €122 million in June 2023. The buyback was
   part of the capital return for the 2022 financial year amounting to a
   total of around €370 million.

    

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

   Investor contact
   Ute Sandner  +49 69 9353-47708
   Michael Klein  +49 69 93534-7703

    

   About Commerzbank
   Commerzbank is the leading bank for the German Mittelstand and a strong
   partner for around 25,500 corporate client groups and almost 11 million
   private and small-business customers in Germany. 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 per cent 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 5.8 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 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.:  307825
   EQS News ID:   1852119


    
   End of Announcement EQS News Service

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