COMMERZBANK AKTIENGESELLSCHAFT

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Group Management Report 192 136 Commerzbank Annual Report 2011 › Note 44 – Segment reporting Page 242 ff. Others and Consolidation The Others and Consolidation segment contains the income and expenses which are not attributable to the business segments. The reporting for this segment under “Others” comprises equity holdings that are not assigned to business segments, as well as Group Treasury. The costs of the service units which – except for integration and restructuring costs – are charged in full to the segments are also shown here. Consolidation includes expense and income items that represent the reconciliation of internal management reporting figures shown in segment reporting with the consolidated financial statements in accordance with IFRS. The costs of the Group management units which are charged in full to the segments, except for integration and restructuring costs, are also reported under this heading. Performance Operating profit amounted to €1,580m in 2011, compared with a loss of €–505m in the prior-year period. Operating income before loan loss provisions rose from €368m in 2010 to €1,996m in 2011. The increase of €1,628m was mainly due to one-off effects connected with the capital measures implemented in the first and fourth quarters of 2011 to optimise the capital structure along with one-off income in Group Treasury from a refinement of the valuation models for interest rate hedging transactions in the third quarter of 2011. Income was also generated from the disposal of equity investments. The marked drop in operating expenses, which fell by €461m, was principally attributable to declining integration costs for the service and management units in connection with the “Growing together” project and to various and sometimes contrary one-off effects, including those associated with the sale of non-strategic holdings in 2010. Results for 2011 showed a pre-tax profit of €1,580m, after a loss of €–505m in 2010.
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 137 193 127 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 Our employees As a leading bank for private and corporate customers, we need well qualified and committed employees. The main objective of our Human Resources work is therefore to constantly improve the appeal of Commerzbank as an employer, both internally and externally. Our Group Human Resources division creates the conditions for recruiting, developing and retaining suitable employees for the Bank. The HR division is a business partner for the segments and creates an important strategic basis for Commerzbank’s success. At year-end 2011, Commerzbank Group employed 58,160 staff, 941 fewer than the year before. Commerzbank personnel Actual number employed 31.12.2011 31.12.2010 Total staff Group 58,160 59,101 Total staff parent bank 42,877 43,550 Table 9 The number of full-time equivalents was 49,215 compared with 50,489 the previous year. The following table shows full-time employees at year-end by segment. Full-time personnel 31.12.2011 31.12.2010 Private Customers 16,546 17,202 Mittelstandsbank 4,843 4,831 Central & Eastern Europe 8,066 8,163 Corporates & Markets 1,827 1,747 Asset Based Finance 1,527 1,743 Portfolio Restructuring Unit 25 45 Others and Consolidation 16,381 16,758 Group total 49,215 50,489 Table 10 › HR Report https://www.commerzbank.com/ media/careers 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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