Commerzbank AG 2021 AR2
The report outlines Commerzbank's performance and strategic progress during the first year of its 'Strategy 2024' transformation program. Despite facing significant restructuring charges and provisions for foreign currency loans at its Polish subsidiary mBank, the company achieved a consolidated profit of €430 million, driven by robust customer business and lower loan loss provisions. Commerzbank made notable progress in streamlining its operations, reducing its German branch network to approximately 550 locations and initiating socially responsible headcount reductions. Additionally, the bank advanced its sustainability agenda by committing to a net-zero portfolio by 2050 and net-zero banking operations by 2040, mobilizing €194.2 billion for sustainable financial products by the end of 2021.
Company: Commerzbank AG
Sector: Finance & insurance
Country: Germany
Year: 2021
Type: AR2
Pages: 324
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Commerzbank AG
Annual Report
The report outlines Commerzbank's performance and strategic progress during the first year of its 'Strategy 2024' transformation program. Despite facing significant restructuring charges and provisions for foreign currency loans at its Polish subsidiary mBank, the company achieved a consolidated profit of €430 million, driven by robust customer business and lower loan loss provisions. Commerzbank made notable progress in streamlining its operations, reducing its German branch network to approximately 550 locations and initiating socially responsible headcount reductions. Additionally, the bank advanced its sustainability agenda by committing to a net-zero portfolio by 2050 and net-zero banking operations by 2040, mobilizing €194.2 billion for sustainable financial products by the end of 2021.
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Document Details
Report Year
2021
Reporting Period
Jan 1, 2021 - Dec 31, 2021
Fiscal Year
2021
Published
Mar 1, 2022
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
Emissions
Scope 1:
Scope 2:
Scope 3:
Women on Board
Women in Management
Net Zero Target
Employees