Commerzbank approves the implementation of a further share buyback – dividend for the fiscal year 2024 expected to be €0.65 per share

Based on a good revenue development, particularly in net interest and commission income as well as some valuation effects in the fourth quarter, Commerzbank reached a preliminary and unaudited net result of €2.68bn in the 2024 fiscal year.

Based on the net profit, the Board of Managing Directors and the Supervisory Board of Commerzbank AG have decided to distribute 71% of the €2.44bn net profit after regulatory deduction of AT1 coupon payments for the 2024 fiscal year.

To this effect, the Board of Managing Directors has decided to execute another share buyback with a volume of up to €400m, for which Commerzbank has received all necessary approvals. The share buyback will commence after the reporting for the 2024 fiscal year and is expected to be completed by the Annual General Meeting in mid-May 2025.

To reach the total pay-out ratio of 71%, Commerzbank AG intends to propose a dividend of €0.65 per share to the Annual General Meeting.

The CET1 ratio after distributions is 15.1%.

Disclaimer

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include, amongst others, the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.