Commerzbank Ag · XETR:CBK
Commerzbank — Investor Day (September 2005)
21 slides from Commerzbank's investor day presentation, Sep 14, 2005
Slide 1: Investors' Day
Investors‘ Day Commerzbank‘s financials – a sound basis Frankfurt, 14.09.2005 Dr. Eric Strutz Chief Financial Officer
Slide 2: Highlights of H1 2005 results
Commerzbank‘s financials – a sound basis Highlights of H1 2005 results Earnings quality significantly improved • Interest and commission income growth • Allocation to provisioning lowered to downside case of €750m Cost/income ratio of 64.5% reveals our tight grip on costs • However, significant inve
Slide 3: Strengths & weaknesses of H1 2005 results
Commerzbank‘s financials – a sound basis Strengths & weaknesses of H1 2005 results in € m H1 `04 H1 `05 Change Comment Net interest income 1,547 1,568 1.4% ü Considerable increase in Q2 `05 -17.0% ü Further reduction Provisioning -452 -375 potential 1.5% ü Consistent Net commission income 1,154 1,17
Slide 4: Core divisions showing positive development
Commerzbank‘s financials – a sound basis Core divisions showing positive development Operating profit in € m Private & Business Customers Asset Management Mittelstand 103 99 81 84 73 70 69 68 53 50 46 42 36 37 40 17 18 23 Σ 323 Σ 153 Σ 177 Σ 54 Σ 131 Σ 171 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q
Slide 5: Profitability analysis H1 2005
Commerzbank‘s financials – a sound basis Profitability analysis H1 2005 Private & International Asset Mittel- Corporates Mortgage Others & Business Corporate Management stand & Markets Banks Consolidation Customers Banking Operating profit (€ m) 153 54 171 76 44 159 175 Regulatory capital (€ m) 1,88
Slide 6: Private & Business Customers: Tight cost control partially compensated decreased interest income
Commerzbank‘s financials – a sound basis Private & Business Customers: Tight cost control partially compensated decreased interest income Value driver analysis H1 `04 H1 `05 Change Change from H1 `04 to H1 `05 in € m Customers* (in m) 4.4 4.4 +/-0% Total lending (in € bn) 35.5 36.3 +2% Margin on tot
Slide 7: Asset Management: AuM development reflecting distribution strategy
Commerzbank‘s financials – a sound basis Asset Management: AuM development reflecting distribution strategy Value driver analysis H1 `04 H1 `05 Change Change from H1 `04 to H1 `05 Assets under management (in € bn)* 99.0 94.8 -4% in € m Total income/AuM (bps) 29 28 -1bps Of which: Commission income/A
Slide 8: Mittelstand: Significant productivity gains lead to jump in operating profit
Commerzbank‘s financials – a sound basis Mittelstand: Significant productivity gains lead to jump in operating profit Value driver analysis H1 `04 H1 `05 Change Change from H1 `04 to H1 `05 Total lending (in € bn)* 43.6 42.4 -3% in € m Loan-loss provision ratio** (in %) 1.39 1.10 -29bps Domestic len
Slide 9: International Corporate Banking: Potential for improving efficiency
Commerzbank‘s financials – a sound basis International Corporate Banking: Potential for improving efficiency Value driver analysis H1 `04 H1 `05 Change Change from H1 `04 to H1 `05 Total lending (in € bn) 19.1 15.6 -18% in € m Margin on lending (in %) 1.33 1.52 +19bps Loan-loss provision ratio* (in
Slide 10: Corporates & Markets: Significant cost savings realized
Commerzbank‘s financials – a sound basis Corporates & Markets: Significant cost savings realized Value driver analysis H1 `04 H1 `05 Change Change from H1 `04 to H1 `05 in € m Total lending (in € bn) 8.6 8.7 +1% Loan-loss provision ratio* (in %) 0.33 0.18 -15bps Risk-weighted assets (in € bn) 28.9 2
Slide 11: Trading profit in H1 better than it looks at first glance
Commerzbank‘s financials – a sound basis Trading profit in H1 better than it looks at first glance Trading profit Sales & Trading achieved in € m €356m in H1 319 • C&M €335m -5 288 -26 173 314 -42 134 • Treasury below last year’s 262 level -31 68 131 • Negative contribution from 103 -57 6 Mortgage B
Slide 12: Mortgage Banks: Significantly increased profitability
Commerzbank‘s financials – a sound basis Mortgage Banks: Significantly increased profitability Value driver analysis • Europe's leading bank specializing Change from H1 `04 to H1 `05 in financing mortgages and public Eurohypo in € m finance Share*: 31.8% • Roll-out and strengthening of 100 -5 -3 int
Slide 13: EssenHyp and Eurohypo are well positioned, leading domestic new business in 2004
Commerzbank‘s financials – a sound basis EssenHyp and Eurohypo are well positioned, leading domestic new business in 2004 Market positions 1. 2. 3. 4. 5. 6. 7. Public-sector loans EssenHyp Commercial Mortgages Eurohypo Retail Mortgages Others Liabilities Market shares in % Public-sector Commercial R
Slide 14: EssenHyp and Eurohypo achieved top positions in 2004
Commerzbank‘s financials – a sound basis EssenHyp and Eurohypo achieved top positions in 2004 Balance-sheet total Public-sector loan portfolio Mortgage loan portfolio in € bn and securities in € bn in € bn 33.1 226.7 Top 6: 7.3 Top 9: EssenHyp EssenHyp 152.8 148.1 115.2 95.6 79.5 77.1 73.8 63.7 41.3
Slide 15: Others & Consolidation: Successful cleaning up significantly improved transparency
Commerzbank‘s financials – a sound basis Others & Consolidation: Successful cleaning up significantly improved transparency Operating profit Of which: surplus participations* in € m in € m 178 175 49 H1 `05 -60 -11 -42 Forecast 55 full year -115 -185 2005 -60 Old structure Dividends Restated -359 Re
Slide 16: Comprehensive income reflects the real earnings power
Commerzbank‘s financials – a sound basis Comprehensive income reflects the real earnings power Comprehensive income in € m 533 321 23.3 306 RoE on comprehensive income 237 in Q2 above Q1 level 158 14.1 10.3 13.3 Cost of capital exceeded in 6.9 both quarters 15 -5.2 Q1 Q2 Q3 Q4 Q1 Q2 2004 2005 Σ 1,03
Slide 17: H1 '05: Commerzbank achieved second best pre-tax profit ever
Commerzbank‘s financials – a sound basis H1 `05: Commerzbank achieved second best pre-tax profit ever Development of key P&L items in € m H1 `99 H1 `00 H1 `01 H1 `02 H1 `03 H1 `04 H1 `05 Pre-tax profit 796 1,898* 569 178 202 781** 832 905 155 Others*** 166 335 600 81 390 102 602 417 445 Trading prof
Slide 18: Strengthened balance-sheet quality since 12/2002
Commerzbank‘s financials – a sound basis Strengthened balance-sheet quality since 12/2002 Changes in key balance-sheet items Trend: in € bn Total as of June `05 6.1 Pension obligation: adjustments due to new mortality tables and long-term interest rates ∆ Others* 0.4 ∆ Excess of 0.5 loan-loss covera
Slide 19: Commerzbank delivers on its three main challenges for FY 2005
Commerzbank‘s financials – a sound basis Commerzbank delivers on its three main challenges for FY 2005 Focus Value drivers 1. Enhancement of profitability of • Germany: revenues, costs and LLPs • BRE Bank: turnaround and growth ü Mittelstandsbank opportunities ü Turnaround of 2. Corporates & Markets
Slide 20: For more information, please contact Commerzbank Investor Relations
For more information, please contact: Sandra Büschken P: +49 69 136 23617 Commerzbank Investor Relations M: [email protected] Jürgen Ackermann Ute Heiserer-Jäckel P: +49 69 136 41874 Head of Investor Relations M: [email protected] P: +49 69 136 22338 M: juergen.acke
Slide 21: Disclaimer
Commerzbank‘s financials – a sound basis Disclaimer / investor relations / This presentation has been prepared and issued by Commerzbank AG. This publication is intended for professional and institutional customers. / Any information in this presentation is based on data obtained from sources consid