COMMERZBANK AKTIENGESELLSCHAFT

To our Shareholders Interim Management Report Interim Financial Statements
(33) Dealings with related companies and persons
As part of its normal business, Commerzbank AG does business
with related companies and persons. These include parties that
are controlled but not consolidated for reasons of materiality,
associated companies, external service providers of occupational
pensions for Commerzbank AG employees, key management personnel
and their dependants as well as companies controlled by
people belonging to this group. Key management personnel
refers exclusively to members of Commerzbank AG’s Board of
Managing Directors and Supervisory Board.
2 9 Overall results
272 Consolidated balance sheet
273 Statement of changes in equity
274 Cash flow statement
275 Notes to the income statement
284 Notes to the balance sheet
290 Other notes
In the first quarter of 2009 there were two major changes
regarding related parties. First, Schiffsbank AG is no longer
regarded as a related party, but rather as a subsidiary which is
fully consolidated in the financial statements. As a consequence,
business relationships between Commerzbank AG and Schiffsbank
AG have been entirely eliminated from the consolidated
financial statements. Second, the number of related parties has
increased due to the first-time consolidation of Dresdner Bank
AG. In the second quarter there were further changes in the
group of consolidated companies due to newly appointed and/or
departing people in key positions and in other related parties
associated with this.
Assets and liabilities and off-balance-sheet items in connection with related parties changed as follows in the year under review:
1.1.2009 Additions Disposals Changes in Changes in 30.6.2009
consolidated exchange
in € m companies rates
Claims on banks 22 1 98 3 5 – 890
Claims on customers 885 520 155 – –5 1 245
Financial investments 37 2 7 – –3 29
Total 1 544 523 260 365 –8 2 164
Liabilities to banks 25 42 –217 – 3
Liabilities to customers 1 885 155 51 –43 –3 1 550
Total 2 141 161 93 –653 –3 1 553
Off-balance-sheet items
Granted guarantees and collateral 322 – 2 124 – 180
Received guarantees and collateral 10 2 – – – 12
In addition, the Commerzbank Group held trading assets of
€713m as at June 30, 2009 and trading liabilities of €888m. These
trading positions stem largely from non-consolidated funds.
The following income and expenses arose from loan agreements
with, deposits from and services provided in connection
with related companies and persons:
1.1.-30.6.2009 | in € m Expenses Income
Interest 30 45
Commission income 5
Trade 12 4
Write-downs / impairments – –
293