COMMERZBANK AKTIENGESELLSCHAFT

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Group Financial Statements 372 316 Commerzbank Annual Report 2011 Board of Managing Directors. The table below shows the breakdown of the remuneration paid to the Board of Managing Directors: €1,000 Basic salary Variable remuneration 2 Remuneration for serving on boards 3 Reduction as per SoFFin cap 3 Share-based remuneration plans Total monetary remuneration Other 4 Total Martin Blessing 2011 500 – – 500 69 569 2010 500 – – – – 500 115 615 Frank Annuscheit 2011 500 – – 500 50 550 2010 500 – 23 – 23 – 500 102 602 Markus Beumer 2011 500 – – 500 59 559 2010 500 – 10 – 10 – 500 46 546 Dr. Achim Kassow 2011 1 292 – – 292 44 336 2010 500 – 113 – 113 – 500 72 572 Jochen Klösges 2011 500 – – 500 39 539 2010 500 – – – – 500 65 565 Michael Reuther 2011 500 – – 500 69 569 2010 500 – – – – 500 73 573 Dr. Stefan 2011 500 – – 500 46 546 Schmittmann 2010 500 – – – – 500 52 552 Ulrich Sieber 2011 500 – – 500 68 568 2010 500 – 22 – 22 – 500 62 562 Dr. Eric Strutz 2011 500 – – 500 33 533 2010 500 – 36 – 36 – 500 91 591 Martin Zielke 2011 500 – – 500 74 574 2010 1 78 – 14 – 14 – 78 4 82 Total 2011 4,792 – – 4,792 551 5,343 2010 4,578 – 218 – 218 – 4,578 682 5,260 1 Pro rata temporis from the date of appointment or up to the date of departure from the Board. 2 Payable in the following year subject to approval of the annual financial statements; no variable remuneration was paid for 2011 or 2010. 3 Remuneration for serving on the boards of Group companies paid in the financial years 2011 and 2010 is offset in full against the SoFFin cap of the previous year and has therefore been allocated to the previous year in the table. 4 The “Other” column includes non-monetary benefits granted in the year under review, tax due on non-monetary benefits and employer contributions to the BVV occupational retirement fund. The table below shows the remuneration expense for the Board of Managing Directors in accordance with the categories of IAS 24.17. The post-employment benefits contain both the service cost included in pension provisions and the employer contributions to BVV. As a result the totals in the table below differ from the two previous tables. €1,000 2011 2010 Short-term employee benefits 5,371 5,353 Post-employment benefits 2,743 2,323 Other long-term benefits – – Termination benefits – – Share-based remuneration – – Total 8,114 7,676
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 317 373 258 202 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 The assets backing the Bank’s retirement benefit plan for present and former members of the Board of Managing Directors or their surviving dependants have been transferred to Commerzbank Pensions-Trust e.V. as part of a contractual trust arrangement. As at December 31, 2011, pension obligations for active members of the Board of Managing Directors amounted to €11.8m (previous year: €10.3m). After deduction of plan assets transferred and after allowing for actuarial gains and losses, the provisions for pension obligations in respect of active members of the Board of Managing Directors amounted to €0.2m on December 31, 2011 (previous year: €0.5m). In the table below we have shown the projected annual pension entitlement on the assumption of retirement at age 62 alongside the net present value of the pension entitlement at December 31, 2011. We have also shown the service cost included in the calculation of pension provisions. The amounts are calculated considering the current term of appointment of the individual board members, assuming the board members will not be incapable for work nor collect pensions before reaching the age of 62 and will remain on the board until the pension is due. 2011 | €1,000 Pension entitlement Service cost Projected annual pension at retirement age of 62 Net present value Martin Blessing 456 3,030 301 Frank Annuscheit 288 1,107 282 Markus Beumer 288 935 238 Jochen Klösges 288 674 283 Michael Reuther 288 1,801 350 Dr. Stefan Schmittmann 288 1,511 489 Ulrich Sieber 288 623 247 Dr. Eric Strutz 288 1,774 175 Martin Zielke 288 393 358 Total 11,848 2,723 Payments to former members of the Board of Managing Directors of Commerzbank Aktiengesellschaft and their surviving dependants came to €8,275 thousand in the financial year 2010 (previous year: €6,519 thousand). The pension liabilities for these persons amounted to €74.4m (previous year: €70.9m). The active members of the Board of Managing Directors have participated in the long-term performance plans (LTPs) which are described in detail in Note 25 and represent a share-based form of compensation. In order to participate in the various plans, the members of the Board of Managing Directors have invested in up to 2,500 Commerzbank Aktiengesellschaft shares per plan at their individual discretion, the chairman in up to 5,000 shares per plan, at current market prices. 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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Page 321 and 322: To our Shareholders Corporate Respo
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