COMMERZBANK AKTIENGESELLSCHAFT

Group Risk Report
236
180 Commerzbank Annual Report 2011
Default portfolio and coverage ratios by segment
€m – excluding/including GLLP
Group 1
86% / 91%
Private Customers
80% / 92%
Mittelstandsbank
76% / 86%
Central & Eastern Europe
102% / 107%
Corporates & Markets
39% / 43%
Asset Based Finance
96% / 99%
Portfolio Restructuring Unit
77% / 78%
Default volume
1,444
1,326
493/669/164
3,362
7,657
2,935
2,512
1,638/590/285
2,019
2,150
1,049/1,016/85
2,116
910
772/60/78
652
506
333/170/3
1 Including Others and Consolidation.
Figure 6
6,773
10,536
10,468
332
9,278 948
Loan loss provisions Collaterals GLLP
19,703
17,884
The default portfolio decreased in all segments during 2011. The volume in the
Mittelstandsbank was approximately a quarter lower and, with over €900m, accounted for
the largest part of the decline. In the Private Customers segment the reduction was also
significant at over 20% or more than €400m. Central & Eastern Europe and Corporates &
Markets each saw a drop in volume of over 10%. We currently expect a further decline in
the default volume in 2012 given the expectation of only a moderate deterioration in
economic conditions.
The default portfolio is backed by collateral of around €9.3bn. In the Private Customers
segment, the collateral consists predominantly of mortgages on owner- and third partyoccupied
properties. In the Mittelstandsbank, collateral is spread over various types of
security. Mortgages on commercial properties and default guarantees account for the largest
amounts. Large parts of the portfolio are secured by guarantees and assignments of
collateral. The portfolio in the Central & Eastern Europe segment is mainly secured by
mortgages, in both the retail and commercial sectors. In addition, a major part of the
collateral in the corporate customer business consists of letters of credit, guarantees and
pledges. The collateral in the Corporates & Markets portfolio principally comprises
assignments of collateral as well as pledges of account balances and securities portfolios. In
Asset Based Finance, collateral mainly relates to commercial mortgages (including ship
mortgages) and also to mortgages of owner- and third party-occupied properties. The
collateral for the PRU portfolio consists almost exclusively of assignments.