Commerzbank has delivered on most of the targets set for the year 2017 and made good progress in terms of digitalisation. The Bank posted a profit and aims to resume dividend payments for 2018.
In 2017, Commerzbank invested in growth, digitalisation and regulation while keeping its costs stable. Adjusted revenues were slightly higher than in 2016, also benefitting from a strong fourth quarter.
Commerzbank continued to pursue its growth strategy in the third quarter, increased its capital ratio, and made further progress in reducing the run-down portfolios. The Bank also continued with the implementation of its “Commerzbank 4.0” strategy as planned.
Commerzbank is well on track with the implementation of its “Commerzbank 4.0” strategy and has further improved its Common Equity Tier 1 ratio. The bank will continue to push forward the end-to-end digitalization of the bank to become more efficient.
Commerzbank is on track with the implementation of its “Commerzbank 4.0” strategy in the first quarter of 2017. CFO Stephan Engels explains the results.
With the new segments Private and Small Business Customers as well as Corporate Clients Commerzbank is focussing its business. The Bank is furthermore digitalising its processes and increasing its efficiency. Thus, 80% of all the relevant processes are to be digitalised by 2020. The aim is to make Commerzbank the most competitive bank in Germany and to make it simpler, faster, and better for its customers.
Thanks to strong growth in retail banking and its market leading position in corporate banking, Commerzbank achieved a solid operating result of €1.4bn. The Bank was able to reduce its costs and increase its CET 1 ratio to 12.3% despite additional charges.
The Bank improved its operating profit in the third quarter 2016 to €429 million. Commerzbank maintains its strong market position in corporate banking. We have seen further growth in retail banking and at our Polish subsidiary mBank.