DGAP-News

Operating profit increased to more than EUR 1 bn in first half of 2015 - Seite 2

higher expenses for strategic investments in digitalisation, as well as for
regulatory issues and compliance. The development of costs was also
impacted by foreign exchange effects as a consequence of the weaker euro.
All in all, year-on-year, the net profit soared to EUR 280 million in the
second quarter and to EUR 646 million in the first half of 2015 (Q2 2014:
EUR 100 million; first half of 2014: EUR 300 million).

Capital ratio improves to comfortable level - further dividend accrual

The Common Equity Tier 1 ratio (CET 1) with full application of Basel 3
rose to 10.5% as of the end of June 2015 (end of March 2015: 9.5%). Thus,
it reached a comfortable level for the business model of Commerzbank. The
ratio of 10.5% takes into account a dividend accrual for the first half of
2015 of EUR 125 million or 10 cents per share. The leverage ratio likewise
improved as of the end of the second quarter of 2015 to 4.0%, following on
from 3.7% as of the end of March 2015. The risk-weighted assets (RWA) with
full application of Basel 3 declined slightly over the end of March 2015 to
EUR 214.4 billion as of the end of June 2015 (end of March 2015: EUR 221.5
billion). The total assets in the Group amounted to EUR 561 billion as of
the end of June 2015 (end of March 2015: EUR 605 billion).

Core Bank: operating profit improved substantially year-on-year

In the Core Bank, the operating profit was substantially increased
year-on-year both in the second quarter of 2015 and in the first half of
2015. In the second quarter, an operating profit of EUR 641 million was
attained (Q2 2014: EUR 442 million), with the effect that the Core Bank
improved its operating profit considerably in the first half of 2015 to EUR
1,412 million (first half of 2014: EUR 940 million). This positive
development is also shown in the operating return on equity (RoE) at the
Core Bank, as well as in the operating return on tangible equity less
intangible assets (RoTE). In the Core Bank, these were at a good level in
the second quarter of 2015 with an operating RoE of 11.7% and an operating
RoTE of 13.6% - despite considerably higher capital resources. The revenues
in the Core Bank rose in the first half of 2015 by approximately 14%, to
EUR 5,122 million, over the first half of 2014 (EUR 4,500 million). All
segments across the Core Bank improved compared to the first half of 2014.
The loan loss provisions in the Core Bank increased as expected compared to
the same quarter of the previous year. However, at EUR 138 million in the
second quarter of 2015, they remained at a low level (Q2 2014: EUR 193