Financial Data and Key Metrics Changes - The net result for the first nine months reached EUR1.9 billion, translating into a return on tangible equity (RoTE) of 8.8%, on track to meet the target of at least 8% for 2024 [6][56] - The CET1 ratio has been increased to 14.8%, with expectations to reach 15% by year-end 2024 [7][51] - The cost/income ratio for Q3 was reported at 58%, with a target of 60% for the full year [21][39] Business Line Data and Key Metrics Changes - Fee income increased by 7.6% year-on-year, driven by growth in transaction banking, lending, and FX trading [25][26] - Corporate Clients reported strong performance in trade finance and syndication, maintaining a cost/income ratio of 44% [46] - PSBC Germany's revenues remained stable, with growth in the securities business offsetting lower net interest income [47] Market Data and Key Metrics Changes - The forecast for risk-weighted assets (RWA) at year-end 2024 is EUR174 billion, down from EUR177 billion previously expected [10] - The company anticipates a total RWA relief of EUR10 billion by 2027 compared to earlier planning [11] Company Strategy and Development Direction - The execution of Strategy 2027 remains a priority, with a focus on capital optimization and cost efficiency [4][20] - A new strategy is being developed, with a presentation scheduled for February 2025 [5][20] - The company aims to grow revenues, particularly in net commission income, by expanding offerings for ultra-high net-worth individuals [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue targets of EUR10.9 billion for 2024, with an improved outlook for net interest income [55] - The economic environment is expected to remain challenging, with GDP growth projected at only 0.2% for 2025 [81] - Management noted that while default rates are expected to normalize, corporate clients have shown resilience [65][81] Other Important Information - A share buyback of EUR600 million is set to commence, with an additional buyback of up to EUR400 million planned [7][53] - The company is committed to a capital return policy targeting at least 70% of profits [54] Q&A Session Summary Question: Net interest income trajectory into 2025 - Management indicated a gradual adjustment of core money offerings and emphasized the importance of considering NII and fair value together [61] Question: Climate risk provisions - Management explained the decision to book collective provisions for climate risk early, aligning with regulatory expectations [61] Question: Mark-to-market of assets and liabilities - Management stated that updates on the mark-to-market will be disclosed at year-end [63] Question: NII guidance if rates fall below 2% - Management confirmed that the sensitivity analysis provided covers the expected range for next year [64] Question: Customer relations amid capital management - Management reassured that client relationships remain unchanged and emphasized support for clients [69] Question: RWA efficiency and capital distribution - Management discussed the gradual approach to capital return and the potential for increased capital distribution in the future [70] Question: Provisioning and methodology changes - Management indicated no immediate changes in provisioning methodology are expected, but future regulatory updates cannot be ruled out [80] Question: Growth in core businesses amid economic challenges - Management expressed confidence in growth despite economic headwinds, particularly in the Mittelstand segment [81] Question: NII expectations for Q4 - Management projected a slight decrease in NII for Q4 due to time effects and market conditions [84] Question: CET1 ratio target and capital return - Management clarified that the CET1 ratio target remains at 13.5%, with a forecasted ratio of 15% by year-end 2024 [85]

The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty Images Two months since UniCredit played its opening move to woo German lender Commerzbank, the lenders flaunted their financial strength as one of Europe's largest banking mergers still hangs in balance. Both banks reported third-quarter results on Wednesday, with UniCredit posting an 8% year-on-year hike in net profit to 2.5 billion euros ($2.25 billion), compared with a Reuters ...

A man shelters from the rain under an umbrella as he walks past the Euro currency sign in front of the former European Central Bank (ECB) building in Frankfurt am Main, western Germany. Kirill Kudryavtsev | Afp | Getty Images European banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Italy's UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest ...

Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020. Commerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit. The bank has been on the defensive as UniCredit looks to become its largest shareholder, ...

ORD HIGHS t a som 705000 at 2.0 co 22.996 21.96 2.56 2 .. 5% 21.86 97. Be 29.96 2.6% 2.50 2.25 21.75 GOL r AECOD HOT 1967 FREED 23, 20 46 Supper 9910 -27 30 chips 25 Olord R 03017 755573 ation co 22.996 21.% 2,56 2 .. 5% 21.86 24.96 97.36 2.6% 2.50 2.25 21.75 GOL ARCOD HIS CHOST CHILLE 95 20 alog Mac 19414 27 3.0 (2017) > 5 00 GMT Neils Christensen Share Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations thr ...

15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" can be seen on the Commerzbank Tower in the center of the banking city. Boosted by the turnaround in interest rates, Commerzbank is aiming for another profit increase after a record year. Photo: Helmut Fricke/dpa (Photo by Helmut Fricke/picture alliance via Getty Images) Two-thirds of the jobs at Commerzbank could disappear if UniCredit successfully carries out a hostile takeover of the German lender, a Commerzbank supervisory board member w ...

Commerzbank headquarters in the financial district of Frankfurt, Germany, on Sept. 12, 2024. UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%. The Italian bank acquired the additional Commerzbank shares through financial instruments, it said in a Monday statement. Earlier this month UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired fr ...

The Commerzbank building (second from right) in Frankfurt am Main, western Germany, on Sept. 25, 2023. Kirill Kudryavtsev | Afp | Getty Images UniCredit's move to take a stake in German lender Commerzbank is raising questions on whether a long awaited cross-border merger could spur more acquisitions and shake up the European banking sector. Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. Berlin has been a majo ...

UniCredit's CEO Andrea Orcel revealed his hand this week as the Italian lender built a 9% stake in Commerzbank — and a takeover bid for the German rival could still be in the cards. UniCredit faces a number of hurdles before increasing its stake after filing a request to "potentially exceed 9.9% of Commerzbank if and when necessary." Commerzbank shares soared on Wednesday when news of UniCredit's position was announced, and compounded gains on Thursday following speculation of an imminent takeover. "All the ...

Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from the German government. Commerzbank stock was up 17.5% at 9:37 a.m. London time. The stake acquisition marks the first step in Berlin's exit from its position in the German lender. The German government said it had sold around 53.1 million shares — or a roughly 4.49% tranche out of its 16.49% total shareholding — in Commerzbank for roughly 702 million euros ($775 millio ...