COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
378
322 Commerzbank Annual Report 2011
For rental and lease agreements that cannot be terminated, the following expenses are forecast for future years:
Due date | €m 31.12.2011 31.12.2010
Up to 1 year 547 549
1 year to 5 years 1,483 1,625
More than 5 years 1,236 1,355
Total 3,266 3,529
Real estate lease agreements usually have terms of between 1
and 30 years with up to 3 options to extend the lease by a
further 3 to 5 years. Price adjustment clauses exist in a number
of different forms such as step-up leases and index clauses.
Subletting agreements have been signed for buildings no longer
in use in the Commerzbank Group. These leases are noncancellable.
The following income will accrue to the
Commerzbank Group in the next few years from these leases:
Due date | €m 31.12.2011 31.12.2010
Up to 1 year 39 54
1 year to 5 years 86 136
More than 5 years 11 103
Total 136 293
As in the previous year, these leases do not contain any agreements on contingent rents.
(103) Date of release for publication
The Group financial statements were approved by the Board of
Managing Directors for submission to the Supervisory Board on
February 27, 2012. The Supervisory Board is responsible for
reviewing and formally approving the Group financial
(104) Corporate Governance Code
We have issued our annual declaration of compliance with the
German Corporate Governance Code pursuant to Art. 161,
German Companies Act (Aktiengesetz) and made it permanently
available to shareholders on the internet (www.commerzbank.com).
An annual declaration of compliance with the German Corporate
statements. Preliminary figures for the 2011 results were
released by the Board of Managing Directors for publication on
February 20, 2012.
Governance Code pursuant to Art. 161, German Companies Act
(Aktiengesetz) has also been issued for comdirect bank
Aktiengesellschaft and made permanently available on the
internet (www.comdirect.de).