COMMERZBANK AKTIENGESELLSCHAFT

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Group Financial Statements 326 270 Commerzbank Annual Report 2011 The expenses for pensions and other employee benefits consisted of the following components: €m 2011 2010 Service cost 68 61 Interest expense 295 295 Expected income from plan assets – 284 – 267 Past service cost – – 1 Curtailments/Settlements – – 5 Amortisation of actuarial gains (–) or losses (+) 107 9 Other – 3 Expenses for defined benefit plans 186 95 Expenses for defined contribution plans 88 98 Other pension benefits (early retirement and part-time scheme for older staff) 87 104 Other pension-related expenses 19 20 Exchange rate changes – – Expenses for pensions and similar employee benefits 380 317 In addition, personnel expense included €235m (previous year: €228m) in employers’ contributions to the state pension scheme. The expected return on plan assets is based on long-term bond yields at the balance sheet date for fixed-interest securities and on past market performance for other investments. The plan assets changed as follows: €m 2011 2010 Fair value as at 1.1. 5,194 4,764 Change in the group of consolidated companies – – 28 Employer contributions 73 52 Expected income from plan assets 284 267 Pension payments – 38 – 34 Reclassifications 33 – 3 Exchange rate changes 29 27 Actuarial gains (+) or losses (–) 155 149 Fair value as at 31.12. 5,730 5,194 Current income from plan assets 439 416 In the financial year 2012 employer contributions of €54m to plan assets for defined benefit pension plans are expected in the Group as well as pension payments of €255m. The breakdown of the plan assets was as follows: % 31.12.2011 31.12.2010 Fixed-income securities 67.3 69.3 Equities 12.8 15.6 Investment fund units 8.8 9.2 Liquid assets 2.8 2.4 Others 8.2 3.5
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 271 327 258 202 Statement of comprehensive income 260 204 Balance sheet 262 206 Statement of changes in equity 264 208 Cash flow statement 266 210 Notes 409 353 Auditors’ report Summary overview of the main components of defined benefit pension plans: €m 2011 2010 2009 2008 2007 Pension obligation (projected unit credit) 6,242 6,073 5,699 2,118 2,202 Fair value of plan assets 5,730 5,194 4,764 2,039 1,831 Funded status 512 879 935 79 371 Unrecognised actuarial gains (+) or losses (–) – 353 – 576 – 416 33 71 Past service income (+) or expense (–) – – – – – Recognition of defined benefit assets 128 53 33 – – Provisions for pensions 287 356 552 112 442 c) Other provisions Changes in other provisions: As at Allocations Utilisation Reversals Reclassification/ As at 1.1.2011 change in the group of consolidated 31.12.2011 €m companies Personnel provisions 819 484 543 80 – 1 679 Restructuring measures 923 30 227 102 3 627 Specific risks in lending business 384 358 7 361 – 25 349 Portfolio risks in lending business 231 55 – 125 – 2 159 Bonuses for special savings schemes 30 7 15 – 9 31 Legal proceedings and recourse claims 808 277 90 118 – 55 822 Other 1,044 361 535 173 – 40 657 Total 4,239 1,572 1,417 959 – 111 3,324 The provisions in the personnel area are predominantly shortterm in nature, but also include provisions for service anniversaries, which are by their nature long-term and are utilised successively in subsequent reporting periods. The average residual term of loan loss provisions is based on the residual terms of the contingent liabilities and irrevocable lending commitments set out in Note 92. In the case of legal disputes it is impossible to forecast the duration of proceedings and the amount of the liability with certainty at the date of establishing the provision. The provisions listed under other have mainly a residual term of under one year. The provisions for restructuring measures derive predominantly from measures relating to the integration of the Dresdner Bank Group and are largely attributable to Human Resources and the Organisation and IT departments. The provisions are mainly spread over a term of up to four years, with the majority expected to be utilised by the end of 2012. Group Financial Statements
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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 Risk Report In the Group Risk
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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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