Commerzbank Ag · XETR:CBK
Commerzbank — Debt Investor Presentation (June 2013)
45 slides from Commerzbank's debt investor presentation, June 2013
Slide 1: Full focus on implementation of our strategic agenda - again good progress in NCA run-down
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Full focus on implementation of our strategic agenda - again good progress in NCA run-down Investor update GM - Investor Relations
Slide 2: Transaction rationale
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Transaction rationale Fully repay SoFFin/ Final redemption of SoFFin and Allianz Silent Participations Allianz Silent Repayment of
Slide 3: Significantly improved Basel III capital ratios after the transaction
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Significantly improved Basel III capital ratios after the transaction Basel 2.5 CT 1 and Basel III CET 1 ratios In % 11.5 Pro-form
Slide 4: 2013 Commerzbank will focus on implementing its strategic agenda
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. 2013 Commerzbank will focus on implementing its strategic agenda New strategic agenda was announced in November 2012. We are now i
Slide 5: Group operating result of €469m in Q1 2013 – complete restructuring costs booked
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Group operating result of €469m in Q1 2013 – complete restructuring costs booked Group revenues of €2.46bn 5% higher vs. Q4 2012 –
Slide 6: Commerzbank financials at a glance
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Commerzbank financials at a glance Group Q1 2012 Q4 2012 Q1 2013 Operating result (€m) 576 -40 469 Core Tier 1 ratio B 2.5 (%) 11.
Slide 7: Group revenues 5% higher in Q1 2013 vs. Q4 2012, LLPs and costs lower
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Group revenues 5% higher in Q1 2013 vs. Q4 2012, LLPs and costs lower Quarterly transition, Group €m 576 469 51 347 493 111 -40 -2
Slide 8: Core Bank: Strong net commission income in Q1 2013, NII still subdued
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank: Strong net commission income in Q1 2013, NII still subdued amid low interest rate environment Revenues €m +5% ▲ Net com
Slide 9: Core Bank: Further improvement in operating costs due to efficiency measures
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank: Further improvement in operating costs due to recently initiated efficiency measures Cost split Cost income ratio €m %
Slide 10: Core Bank: Sound portfolio quality and NPL ratio below 2%
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank: Sound portfolio quality and NPL ratio below 2% LLP split €m -10% ▲ Default portfolio further reduced due to successful
Slide 11: Core Bank Q1 operating results
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank Q1 operating results Private Customers – Operating result Mittelstandsbank – Operating result €m €m -33% 486 Revenue gro
Slide 12: Private Customers: Revenue growth in Q1 2013 vs. Q4 2012
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Private Customers: Revenue growth in Q1 2013 vs. Q4 2012 due to seasonally stronger securities business Quarterly transition €m 13
Slide 13: Mittelstandsbank: Stable results from customer business
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Mittelstandsbank: Stable results from customer business, positive effects from restructuring of loans in Q4 2012 did not recur in
Slide 14: Central & Eastern Europe: Operating result supported by LLP releases and low costs
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Central & Eastern Europe: Operating result supported by releases in loan loss provisions and low costs Quarterly transition Effect
Slide 15: Corporates & Markets: Good start to 2013
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Corporates & Markets: Good start to 2013 driven by increased risk appetite from clients in equities and interest rate products Qua
Slide 16: NCA: Losses significantly reduced, successful asset disposal continues
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. NCA: Losses significantly reduced, successful asset disposal continues Quarterly transition €m 20 337 -87 4 -454 -448 Operating re
Slide 17: NCA: Good momentum in asset reduction continues
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. NCA: Good momentum in asset reduction continues without decrease in portfolio quality LLP ▲ NCA run-down mainly in CRE and Public
Slide 18: 79% of CRE and 74% of Ship Finance portfolio within lower and medium risk
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. 79% of CRE and 74% of Ship Finance portfolio within lower and medium risk cluster 1) Cluster Commercial Real Estate Q1/13 Q4/12 Sh
Slide 19: NCA: Diversified portfolio of mainly long term assets
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. NCA: Diversified portfolio of mainly long term assets EaD (incl. NPL) per 31.03.2013, in €bn GER USA IT ES UK POR Rest Sum Commerc
Slide 20: Basel 2.5 Core Tier 1 ratio at 11.5%
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Basel 2.5 Core Tier 1 ratio at 11.5% RWA Core Tier 1 capital & ratio €bn €bn › RWA almost flat Q1 2013 vs. Q4 2012 › Lower Basel 2
Slide 21: Limited unsecured issuance in 2013 – flexible funding approach
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Limited unsecured issuance in 2013 – flexible funding approach to support franchise demand and diversify funding Capital market fu
Slide 22: Outlook
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Outlook Unchanged outlook: ongoing asset reduction and low interest rates expected to put further pressure on revenues compared to
Slide 23: Appendix
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Appendix GM - Investor Relations, GM - Treasury | May / June 2013 23
Slide 24: German economy 2013 – Fighting to stay on track
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. German economy 2013 – Fighting to stay on track Current development Our expectation for 2013-2014 Reasons for outperformance › The
Slide 25: Significant items affecting group revenues and net income
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Significant items affecting group revenues and net income Group revenues €m Items Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Notes Me
Slide 26: Revenues before LLP adjusted for significant items
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Revenues before LLP adjusted for significant items Group Core Bank Adjusted revenues before LLP Adjusted revenues before LLP €m €m
Slide 27: Core Bank adjusted operating result
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank adjusted operating result Group Core Bank Adjusted operating result Adjusted operating result €m €m 714 1,003 740 420 44
Slide 28: PC divisional split
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. PC divisional split Filialbank – Revenues before LLP Commerz Real – Revenues before LLP €m €m ▲ Higher NCI due to real estate 768
Slide 29: MSB divisional split
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. MSB divisional split Mittelstand Germany – Revenues before LLP Corporate Banking & International – Revenues before €m LLP ▲ Higher
Slide 30: Corporates & Markets divisional split
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Corporates & Markets divisional split Corporates – Revenues before LLPs EMC – Revenues before LLPs €m €m ▲ Stable performance acro
Slide 31: Full focus on implementation of our strategic agenda
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Full focus on implementation of our strategic agenda Segment Target Target 2016 Progress towards target in Q11) Revenues per custo
Slide 32: Full focus on implementation of our strategic agenda
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Full focus on implementation of our strategic agenda Segment Target Target 2016 Progress towards target in Q11) Revenue growth +5%
Slide 33: Basel III CET 1 comfortably above 9% under phase-in
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Basel III CET 1 comfortably above 9% under phase-in Basel 2.5 CT 1 and Basel III CET 1 ratios % Pro-forma 11.5 1.4 10.1 Capital de
Slide 34: Commerzbank Group
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Commerzbank Group Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 1,694 1,784 1,281 1,728 1,356 -20
Slide 35: Core Bank
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Core Bank Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 1,473 1,598 1,155 1,520 1,187 -19.4 -21.9
Slide 36: Private Customers
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Private Customers Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 471 448 446 462 431 -8.5 -6.7 Pro
Slide 37: Mittelstandsbank
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Mittelstandsbank Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 542 487 468 454 457 -15.7 0.7 Prov
Slide 38: Central & Eastern Europe
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Central & Eastern Europe Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 124 126 129 129 103 -16.9
Slide 39: Corporates & Markets
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Corporates & Markets Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 295 536 -24 442 196 -33.6 -55.
Slide 40: Non-Core Assets
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Non-Core Assets Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 185 156 126 208 169 -8.6 -18.8 Prov
Slide 41: Portfolio Restructuring Unit
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Portfolio Restructuring Unit Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 36 30 - - - -100.0 - P
Slide 42: Others & Consolidation
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Others & Consolidation Q1 Q2 Q3 Q4 Q1 in € m % yoy % qoq 2012 2012 2012 2012 2013 Net interest income 41 1 136 33 - -100.0 -100.0
Slide 43: Group equity definitions
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Group equity definitions Reconciliation of equity definitions Equity basis for RoE Reconciliation of equity definitions Q1 2013 3M
Slide 44: For more information, please contact Commerzbank's IR team
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. For more information, please contact Commerzbank´´s IR team: Tanja Birkholz (Head of Investor Relations / Executive Management Boa
Slide 45: Disclaimer
These written materials and the information contained herein are not being issued and may not be distributed in the United States of America, Canada, Japan or Australia. Disclaimer The information contained herein serves information purposes and does not constitute a prospectus or any offer for sale