COMMERZBANK AKTIENGESELLSCHAFT

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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).
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 323 379 258 202 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 (105) Letters of comfort In respect of the subsidiaries listed below and included in the consolidated financial statements of our Bank, we undertake to ensure that, except in the case of political risks, they are able to meet their contractual liabilities. Name Registered office AFÖG GmbH & Co. KG Frankfurt/Main comdirect bank Aktiengesellschaft Quickborn Commerz (East Asia) Ltd. Hong Kong Commerzbank (Eurasija) SAO Moscow Commerzbank Europe (Ireland) Dublin Commerzbank Europe Finance (Ireland) plc. Dublin Commerzbank Inlandsbanken Holding GmbH Frankfurt/Main Commerzbank International S.A. Luxembourg CommerzTrust GmbH Frankfurt/Main Commerz Markets LLC New York Erste Europäische Pfandbrief- und Kommunalkreditbank Aktiengesellschaft in Luxemburg Luxembourg Eurohypo Aktiengesellschaft Eschborn 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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Page 327 and 328: To our Shareholders Corporate Respo
Page 377: To our Shareholders Corporate Respo
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Page 415 and 416: Jahresabschluss und Lagebericht 201
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COMMERZBANK AKTIENGESELLSCHAFT

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