COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
298
242 Commerzbank Annual Report 2011
€m 2011 2010 Change in %
Net interest income from
Trading assets and liabilities 1,012 698 45.0
Applying the fair value option 83 36 .
Available-for-sale financial assets 1,232 1,225 0.6
Loans and receivables 15,456 15,949 – 3.1
Other financial liabilities – 9,780 – 10,579 – 7.6
(42) Earnings per share
2011 2010 Change in %
Operating profit (€m) 507 1,386 – 63.4
Consolidated profit or loss attributable to
Commerzbank shareholders (€m) 638 1,430 .
Average number of ordinary shares issued 3,459,978,549 1,178,599,388 .
Operating profit per share (€) 0.15 1.18 – 87.3
Earnings per share (€) 0.18 1.21 .
Earnings per share as per IAS 33 are based on the consolidated
surplus attributable to Commerzbank shareholders and are
calculated by dividing the adjusted consolidated surplus by the
weighted average number of shares outstanding during the
financial year. As in 2010, no conversion and option rights were
(43) Cost/income ratio
outstanding in the reporting year. The figure for diluted earnings
per share was therefore identical to the undiluted figure. The
breakdown of operating profit is set out in the segment report
(Note 44).
2011 2010 Change
%
in % points
Cost/income ratio in operating business 80.8 69.3 11.5
The cost/income ratio is the ratio of operating expenses to income before provisions.
(44) Segment reporting
Segment reporting reflects the results of the operating business
segments within the Commerzbank Group. The segment
information below is based on IFRS 8 Operating Segments,
which adopts the so-called management approach. In
accordance with this standard, segment information must be
prepared on the basis of the internal reporting information that
is evaluated by the chief operating decision maker to assess the
performance of the operating segments and make decisions
regarding the allocation of resources to the operating segments.
Within the Commerzbank Group, the function of chief operating
decision maker is exercised by the Board of Managing Directors.
Our segment reporting covers six operating segments and
the Others and Consolidation segment. This reflects the
Commerzbank Group’s organisational structure and forms the
basis for internal management reporting. The business segments
are divided up on the basis of distinctions between products,
services and/or customer target groups. As part of the ongoing
refinement of the segments’ business models the business
responsibilities of the segments have been slightly adjusted. In
2011, assets were allocated based on this refined customer
segmentation and the prior-year figures were restated
accordingly.
• The Private Customers segment set up a new departmental
organisation in 2011 and now consists of the divisions Private
Customers, Direct Banking and Credit. The Private Customers
division comprises the classic branch banking business,
which offers standardised banking and financial services
tailored to the typical needs of customers, and Wealth