Commerzbank AG 2020 AR2
The report outlines Commerzbank's performance and strategic progress during the challenging 2020 fiscal year, which was heavily impacted by the COVID-19 pandemic. The bank recorded an operating loss of ’233m and a consolidated loss of ’2.9bn, driven by increased risk provisions and a full goodwill write-down. Despite these challenges, Commerzbank maintained a strong Common Equity Tier 1 (CET1) ratio of 13.2%, well above regulatory requirements. Key achievements included the successful merger with comdirect bank AG and the economic completion of the sale of the Equity Markets & Commodities division. Additionally, the bank launched its 'Strategy 2024' program to transform into a digital, sustainable, and profitable organization.
Company: Commerzbank AG
Sector: Finance & insurance
Country: Germany
Year: 2020
Type: AR2
Pages: 350
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Commerzbank AG
Annual Report
The report outlines Commerzbank's performance and strategic progress during the challenging 2020 fiscal year, which was heavily impacted by the COVID-19 pandemic. The bank recorded an operating loss of ’233m and a consolidated loss of ’2.9bn, driven by increased risk provisions and a full goodwill write-down. Despite these challenges, Commerzbank maintained a strong Common Equity Tier 1 (CET1) ratio of 13.2%, well above regulatory requirements. Key achievements included the successful merger with comdirect bank AG and the economic completion of the sale of the Equity Markets & Commodities division. Additionally, the bank launched its 'Strategy 2024' program to transform into a digital, sustainable, and profitable organization.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Published
Mar 1, 2021
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Women in Management
Employees