On track to reach targets -
H1 net result of €1.1bn
Analyst conference - Q2 2023
4 August 2023 | Commerzbank, Manfred Knof, CEO & Bettina Orlopp, CFO, Frankfurt | All figures in this presentation are subject to rounding |
Manfred Knof
CEO
4 August 2023 | Commerzbank, Manfred Knof, CEO, Frankfurt | 1 |
On track to reach our 2023 and 2024 targets
Operating Result
(€m) | 1,764 |
1,289 | |
H1 2022 | H1 2023 |
Net Result
(€m) | 1,145 |
768 | |
H1 2022 | H1 2023 |
CET1 ratio
(%) | 13.7 | 14.4 |
H1 2022 | H1 2023 |
- Subject to approval of ECB and German Finance Agency 4 August 2023
Strong revenues from customer business
CHF mortgages in Poland well provisioned but not fully resolved
Costs on track - CIR of 61% in H1
Strong RoTE of 8.1% in H1 - full year return expected to be lower
Committed to capital return - will apply for second share buyback1
Commerzbank, Manfred Knof, CEO, Frankfurt | 2 |
Customer business developing well
Selected highlights
Mittelstand
FX
Asset
Management
Mortgages
Cash and deposit management benefiting from good customer relationships
Top 10 globally based on state-of-the-art eFX platform for corporate clients
€10bn AuM "Yellowfin" carve-out to drive growth with clients with AuM > €30m
German new mortgage business recovering from lows
4 August 2023 | Commerzbank, Manfred Knof, CEO, Frankfurt | 3 |
Corporate Clients clearly improved capital deployment
RWA efficiency | Measures |
(% 12-monthrevenue-return on credit RWA excl. NBFI and Others)
4.6
7.2
6.1 | Cross-selling via data-supported sales model |
5.2
Tailwind from higher rates environment
2020 | 2021 | 2022 | H1 2023 | Review of client relationships with low profitability | |
Share of credit RWA with revenue-return on total customer relationship <3%
34% | 29% | 26% | 20% | |||
4 August 2023 | Commerzbank, Manfred Knof, CEO, Frankfurt | 4 |
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Commerzbank AG published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 05:08:22 UTC.