COMMERZBANK AKTIENGESELLSCHAFT

To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 127
71
127 71 Business and overall conditions
135 79 Earnings performance, assets and financial position
147 91 Segment performance
137 193 Our employees
143 199 Report on events after the reporting period
144 200 Outlook and opportunities report
Business and overall conditions
Structure and organisation
Commerzbank Aktiengesellschaft is Germany’s second largest bank, one of its leading banks
for private and corporate customers and a major financial institution within Europe. Our customers
have around 1,200 branches at their disposal, one of the densest networks of any private-sector
bank in Germany. Commerzbank serves a total of around 15 million private customers
and 1 million business and corporate customers worldwide. Commerzbank aims to
continue strengthening its position as market leader in the private and corporate customer
segments in Germany.
The focus of our activities is on the four core segments Private Customers, Mittelstandsbank,
Corporates & Markets and Central & Eastern Europe, which are at the heart of Commerzbank.
Other segments that are not part of the core bank are Asset Based Finance and Portfolio
Restructuring Unit. Each of the segments is managed by a member of the Board of Managing
Directors.
All staff and management functions are contained in Group Management: Group Audit,
Group Communications, Group Compliance, Group Development & Strategy, Group Finance,
Group Finance Architecture, Group Human Resources, Group Investor Relations, Group
Legal, Group Treasury and central risk functions. The support functions are provided by
Group Services. These include Group Banking Operations, Group Markets Operations, Group
Information Technology, Group Organisation, Group Security and Group Support. The
“Commerzbank Excellence” programme has been set up under the joint leadership of Group
Management and Group Services. The responsibilities of the Board of Managing Directors are
also clearly defined for all these functional units. The staff, management and support functions
are combined in the Others and Consolidation division for external reporting purposes.
On the domestic market, Commerzbank Aktiengesellschaft is headquartered in Frankfurt
am Main, from where it manages a nationwide branch network through which all customer
groups are served. Its major German subsidiaries are Eurohypo AG, comdirect bank AG,
Commerz Real AG and Deutsche Schiffsbank AG, which will be merged into Commerzbank
in 2012. Outside of Germany, the Bank has 8 material subsidiaries, 25 operational foreign
branches and 33 representative offices in 51 countries and is represented in all the major
financial centres such as London, New York, Tokyo, Hong Kong and Singapore. However, the
focus of the Bank’s international activities is in Europe.
Commerzbank prepares consolidated financial statements which, in addition to Commerzbank
Aktiengesellschaft as operating lead company, incorporate all material subsidiaries in
which the Bank holds more than 50% of the voting rights or exercises control in another
manner. The financial year is the calendar year.
› Responsibilities of the Board of
Managing Directors
Page 16 f.
› Commerzbank Group structure
Page C4
› Commerzbank worldwide
Page C5
Group Management Report