● Original EBA capital target of EUR 5.3 bn already achieved as of March 31, 2012 and additional buffer of approximately EUR 1.1 bn generated
● Core Bank with operating profit of EUR 845 m, Group net profit of EUR 369 m in first quarter of 2012
● Operating expenses reduced by 17% in a year-on-year comparison
● Risk-weighted assets reduced by a further 10% in the first quarter of 2012 compared to previous year, Core Tier 1 ratio rises to 11.3%
In the first quarter of 2012 Commerzbank posted an operating profit of EUR 584 million (Q1 2011: EUR 1,144 million) and has thus made a solid start to the year. Adjusted for the positive one-off effect of EUR 358 million from the measure to improve the capital structure in the first quarter of 2011 and a negative effect of EUR 158 million from the increased market valuation of liabilities (“Own Credit Spread” – OCS) in the first quarter of 2012, the operating profit in the Group is at a stable level in a year-on-year comparison. At the Core Bank, which encompasses the strategically significant customer-centric business of Commerzbank, the operating profit was EUR 845 million (Q1 2011: EUR 1,219 million). The original capital target of the European Banking Authority (EBA) of EUR 5.3 billion has already been surpassed by approximately EUR 1.1 billion as of March 31, 2012. Approximately EUR 0.7 billion thereof originate from the measure to improve the capital structure executed in March 2012.
