COMMERZBANK AKTIENGESELLSCHAFT

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Group Management Report 180 124 Commerzbank Annual Report 2011 The activities of Credit Portfolio Management, which actively manages the credit portfolio acquired from Client Relationship, focused on improving profitability in 2011, particularly by optimising the use of equity. The portfolio diversification was improved further through active management and a reduction in risk concentrations. CPM also made a significant contribution to the results of the Corporate Finance division in 2011. During the year, a new unit was set up within Corporate Finance – Financial Institutions Advisory – which specialises in advising financial institutions. Including all Corporates & Markets product areas and Mittelstandsbank, customers’ needs are analysed, product solutions formulated and business relationships developed, resulting in a comprehensive advisory service for Western European banks with capital market requirements. Outlook In 2012, Corporate Finance intends to reinforce its position on the German market and in European core countries, and expand it through targeted measures. This will require Corporate Finance to work closely with Mittelstandsbank and Client Relationship Management to enhance relationships with customers while developing solutions across the whole product range. In this context, there will be further cooperation between Corporate Finance units in 2012. Furthermore, we will intensify the development of innovative capital market solutions in various currency areas. Given the increasing disintermediation of small companies that are active internationally and looking more and more to meet their funding needs via the capital market rather than a classic loan, we will increasingly arrange relevant bond issues for our corporate customers, seek to step up our syndication ratios on loans and structure new and existing loans so that they are of interest to various investor classes. Client Relationship Management The Client Relationship Management division focuses on serving well-known German multinational companies, selected German family companies in all key industrial sectors and companies from the international insurance sector. The division is also responsible for taking care of leading private equity investors as well as the federal government and the individual German states. In order to offer our clients customised solutions, the division works closely with the relevant product specialists from all areas of the Bank. Even in the difficult market environment of 2011, we stood by our customers as a strong and reliable partner in investment and corporate banking. Here we focused on providing innovative answers to the challenges of the global financial markets and ensuring continuity when granting loans for our customers. We secured market share and reinforced Commerzbank’s good positioning by successfully developing our support for investment bank customers in the public sector. Our comprehensive service approach for financial investors means that Commerzbank is now in greater demand as a partner.
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 125 181 127 71 Business and overall conditions 135 79 Earnings performance, assets and financial position 147 91 Segment performance 119 175 Corporates & Markets 137 193 Our employees 143 199 Report on events after the reporting period 144 200 Outlook and opportunities report Outlook In 2012 the division will strive to further develop business relationships with target customers. In doing so, we will continually optimise the use of capital. In addition, the worldwide servicing of sovereign wealth funds will in future be conducted through CRM. Outlook for Corporates & Markets The next two years will bring fresh challenges for the Corporates & Markets segment. The segment will therefore focus on stabilising earnings, optimising capital requirements and maintaining consistent cost management in the next few years. It will also adhere to a conservative risk approach in its trading and banking books and apply appropriate loan loss provisions. In doing so, our products and services will continue to be geared closely to customer needs in future. This will help us remain a competitive and attractive business partner for our customers, while at the same time being well prepared for the new regulatory arrangements. Group Management Report
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Fourth Supplement dated April 13, 2
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Financial Statements and Management
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Corporate Responsibility One bank.
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Environment As a financial services
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In a joint initiative by the overal
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Performance-related remuneration Th
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The members of the Board of Managin
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The monthly amount of the retiremen
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tion for the remainder of his term
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Loans to members of the Board of Ma
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Other details D&O liability insuran
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Details pursuant to Art. 289 of the
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up to five years effective from the
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The Supervisory Board oversees fina
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• Statements on presentation in t
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Since summer 2011, the environment
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At the beginning of December, Comme
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The changes in the individual earni
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As with the change in other assets
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Report on events after the reportin
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We assume that Germany will fare be
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the resulting impact on financial i
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The Asset Based Finance segment was
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Risk report Risk reporting takes pl
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Risk strategy and risk management T
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Macroeconomic stress tests are also
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Overview of management instruments
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The “reduction” area comprises
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Corporates & Markets This segment c
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Public Finance Commerzbank’s Asse
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Portfolio by region as at 31.12.201
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and Europe (CLOs). The exposure in
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In 2011, provisions in Central & Ea
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of the overdraft starts on the firs
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The year 2011 was mainly affected b
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The adjoining diagram documents the
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Available net liquidity in the comb
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OpRisk events by segment | €m 201
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Reputational risk Reputational risk
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Provisions for pensions are calcula
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Notes to the income statement (5) B
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(12) Securities At December 31, 201
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(16) Fiduciary transactions Financi
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(23) Other liabilities Financial St
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(27) Equity Financial Statements an
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c) Retained earnings € Financial
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(30) Non-distributable amounts Fina
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Other notes (33) Off-balance-sheet
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(34) Forward transactions Financial
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(36) Remuneration and loans to boar
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€1,000 LTP Number of participatin
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Name Registered office Share of cap
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) Associated companies Name Registe
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Foreign-exchange rates for €1 as
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Members of the Supervisory Board of
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(41) Boards of Commerzbank Aktienge
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Independent Auditor’s Report 1 To
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Significant subsidiaries and associ
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Annual Report 2011 of the Commerzba
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To our Shareholders Corporate Respo
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Group Financial Statements Our Grou
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Recent developments Optimisation of
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COMMERZBANK AKTIENGESELLSCHAFT Fran
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Jahresabschluss und Lagebericht 201
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COMMERZBANK AKTIENGESELLSCHAFT

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