COMMERZBANK AKTIENGESELLSCHAFT

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Group Financial Statements 374 318 Commerzbank Annual Report 2011 The table below provides information on the long-term performance plans of active members of the Board of Managing Directors, acquired in their capacity as active board members, effective as at December 31, 2011. The members of the Board of Managing Directors renounced all the shares acquired under the 2008 LTP in February 2009 and will therefore not receive any payments from this plan. The fair value of the 2007 plan was zero as at December 31, 2011. The provisions were already reversed in full in the previous year. Number of Fair value Fair value Pro rata provisions participating shares at grant date at 31.12.2011 as at 31.12.2011 €1,000 LTP (units) Martin Blessing 2008 – – – – 2007 2,500 79 – – Michael Reuther 2008 – – – – 2007 2,500 79 – – Dr. Eric Strutz 2008 – – – – 2007 2,500 79 – – Totals 2008 – – – – 2007 7,500 237 – – Total 2011 7,500 237 – – Total 2010 18,700 619 – – Members of the Board of Managing Directors not listed in the table above held no LTPs as at December 31, 2011 which they had acquired as an active board member. As the board members were not entitled to any variable remuneration for the financial Supervisory Board. Remuneration for the members of the Supervisory Board is regulated in Art. 15 of the Articles of Association of Commerzbank Aktiengesellschaft. Members of the Supervisory Board received total net remuneration for financial year 2011 of €1,619 thousand (previous year: €1,563 thousand). Of this figure, the basic remuneration and remuneration for serving on committees amounted to €1,199 thousand (previous year: €1,240 thousand) and attendance fees to €420 thousand (previous year: €323 thousand). Attendance fees are paid for participating in the meetings of the Supervisory Board and its six committees (Presiding, Audit, Risk, Nomination, Conciliation and Social Welfare Committees) which met in the year under review. The value added tax year 2011 due to the ongoing SoFFin caps, they did not receive any deferred share-based payments under the Short Term or Long Term Incentives (for further details see the Remuneration Report). (currently 19%) payable on the remuneration of the members of the Supervisory Board resident in Germany was reimbursed by the Bank. Contrary to the previous year’s practice this reimbursement was not treated as a component of remuneration. No value added tax is payable for members of the Supervisory Board resident outside Germany. The overall remuneration of €1,619 thousand (previous year: €1,563 thousand) is categorised as short-term employee benefits in accordance with IAS 24.17. The Board of Managing Directors and Supervisory Board held no more than 1% in total (previous year: under 1%) of the issued shares and option rights of Commerzbank Aktiengesellschaft on December 31, 2011.
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 319 375 258 202 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 (100) Share-based payment plans Due to the performances already made by employees there were again expenses relating to share-based payments in the 2011 financial year. Further details and the terms and conditions of the LTP are available in Note 25 of this annual report. Sharebased payment expense was as follows: €m 2011 2010 Cash-settled plans 4 3 of which LTP – 1 Share awards – – CIP 2 – Equity-settled plans 17 2 of which: CIP 15 – Total 21 5 The provisions for cash-settled plans and the reserves in equity for plans settled with equity instruments were as follows: €m 31.12.2011 31.12.2010 Provisions 12 8 of which LTP – 2 Share awards 8 – CIP 2 – Equity reserves 20 3 of which: CIP 15 – Share Awards. The share awards made in the previous year were reported in personnel provisions as of December 31, 2010. The level of these provisions relating to share-based payments could not be finally established until March 2011 when the individual variable payments were determined. The amount of the provisions attributable to share awards was reassigned to the provision for share awards in the financial year 2011. The number of rights outstanding under the share award programmes changed as follows during the financial year: Number of awards (units) 2011 Balance as at 1.1. – Granted during the year 6,842,932 Forfeited during the year 174,882 Exercised during the year 277,246 Expired during the year – Balance as at 31.12. 6,390,804 Commerzbank Incentive Plan. As set out in Note 25, the number of shares which beneficiaries are entitled to acquire under the Commerzbank Incentive Plan, which has been in force since the 2011 financial year, are not determined until the following year. The expense of €17m recognised for the CIP is matched by a provision of €2m for cash-settled plans and an allocation of €15m to the capital reserves. 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 323 and 324: To our Shareholders Corporate Respo
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