Commerzbank AG (XTER:CBK)

€ 15.55 -0.095 (-0.61%) Market Cap: 18.42 Bil Enterprise Value: -41.37 Bil PE Ratio: 8.69 PB Ratio: 0.57 GF Score: 55/100

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Q1 2021 Commerzbank AG Earnings Call Transcript

May 12, 2021 / 07:00AM GMT

Release Date Price: €6.26 (+8.56%)

Transcript

Operator

Good morning, ladies and gentlemen, and welcome to the Commerzbank AG Conference Call. Please note that this call is being transmitted as well as recorded by audio webcast and will subsequently be made available for replay on the Internet. (Operator Instructions)

Let me now turn the floor over to our CEO, Manfred Knof.

Manfred Knof

Commerzbank AG - Chairman of the Board of MD & CEO

Good morning, everyone, and welcome to our earnings call for the first quarter of this year. Q1 was my first quarter as CEO of Commerzbank, and we presented our Strategy 2024 in February. Today, I'm looking forward to giving you the first update on the transformation of the bank. Bettina will then walk you through the financials before both of us are happy to answer your questions. We will maintain this setup also in the future earnings calls.

Now let's start with our presentation on Page 2. We had a very good first quarter. We delivered strong results and successfully started the transformation of Commerzbank. On P&L, we reached a strong operational

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