COMMERZBANK AKTIENGESELLSCHAFT

Group Management Report
138
82 Commerzbank Annual Report 2011
› Notes to the balance sheet
Page 249 ff.
The statement of comprehensive income for 2011, which in addition to consolidated
profit/loss also includes other comprehensive income for the period, showed a net total of
€8m. Other comprehensive income which shows a loss of €–739m consists of the sum of
changes in the revaluation reserve (€–781m), the reserve from cash flow hedges (€195m),
the reserve from currency translation (€–152m) and companies accounted for using the equity
method (€–1m). Operating earnings per share amounted to €0.15 and earnings per
share to €0.18.
Consolidated balance sheet
Total assets of the Commerzbank Group fell by 12.3% compared with December 31, 2010, to
€661.8bn. The €92.5bn fall also reflects the planned reduction in volumes and risks. On the
assets side, the fall in volume was determined mainly by lower claims on customers and
banks, which decreased by €31.2bn and €22.8bn respectively. Trading assets and financial
investments also declined significantly by €12.1bn and €21.2bn respectively. On the liabilities
side, liabilities to banks in particular decreased by €39.1bn and securitised liabilities by
€25.7bn. Trading liabilities also declined €14.5bn.
The cash reserve fell year-on-year by €8.1bn to €6.1bn. Here credit balances with central
banks declined contingent on the balance sheet date. Claims on banks were €22.8bn lower
year-on-year at €87.8bn. This 20.6% fall was due to reductions of €17.1bn in collateralised
money market transactions in the form of reverse repos and cash collaterals, of €4.0bn in
claims from money market trading and of €1.4bn in promissory note loans. Claims on customers
fell by €31.2bn to €296.6bn due to a much lower credit volume. As at the reporting
date, total lending to customers and banks stood at €303.9bn, down €26.4bn compared with
end-2010. Although loans to banks were 11.4% higher than in 2010 at €26.1bn, customer
lending business declined by 9.5% to €277.8bn at year-end. This was mainly a result of the
downsizing of the portfolio as part of the strategic focus on the Bank’s core business.
As at the reporting date, trading assets amounted to €155.7bn, a fall of €12.1bn or 7.2%
compared with the end of 2010. The €9.4bn fall in bonds and notes and other interest raterelated
securities through disposals was a significant contributory factor. Financial investments
decreased by 18.3% over the year to €94.5bn. Bonds, notes and other interest raterelated
securities were down by €21.0bn to €92.5bn, while equities and other equity capitalrelated
securities rose marginally by €0.2bn to €1.5bn.