Additional provisions on foreign currency loans in Poland for an amount of 436 million euros – Commerzbank result burdened with a corresponding amount; a still positive annual net result expected


Commerzbank Aktiengesellschaft (CZB)

Additional provisions on foreign currency loans in Poland for an amount of 436 million euros – Commerzbank result burdened with a corresponding amount; a still positive annual net result expected

21-Jan-2022 / 18:22 CET/CEST
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Additional provisions on foreign currency loans in Poland for an amount of 436 million euros – Commerzbank result burdened with a corresponding amount; a still positive annual net result expected

Today, mBank in Poland made provisions for the fourth quarter of 2021 for currency-indexed loan agreements in the amount of PLN 2,006 million (approximately €436 million).

Commerzbank’s operating profit in the fourth quarter is burdened with a corresponding amount. Nevertheless, Commerzbank expects a positive net result for the 2021 financial year.

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Warning
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this press release, these statements relate to, among other things, Commerzbank’s expected future business, expected efficiencies and synergies, expected growth prospects and other opportunities to increase the value of Commerzbank as well as future financial results. expected, restructuring costs and other financial developments and information. These forward-looking statements are based on management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such statements. forward-looking statements. These factors include conditions in the financial markets in Germany, Europe, the United States and other regions from which Commerzbank derives a substantial portion of its income and in which Commerzbank holds a substantial portion of its assets, changes in asset prices and market volatility, in particular due to the ongoing European debt crisis, potential defaults of borrowers or commercial counterparties, the implementation of its strategic initiatives to improve its business model, the reliability its policies, procedures and methods for managing risks, risks arising from changes in regulations and other risks. Forward-looking statements therefore speak only as of the date on which they are made. Commerzbank undertakes no obligation to update or issue revisions to any forward-looking statements contained in this release to reflect events or circumstances after the date of this release.

Contact:
Christopher Wortig
Head of Investor Relations
Commerzbank AG
Investor Relations
Phone. : +49 69 136 – 21331
Email: [email protected]

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