Commerzbank AG (XTER:CBK)
€ 15.665 0.095 (0.61%) Market Cap: 18.56 Bil Enterprise Value: -41.23 Bil PE Ratio: 8.75 PB Ratio: 0.58 GF Score: 55/100

Q3 2021 Commerzbank AG Earnings Call Transcript

Nov 04, 2021 / 08:00AM GMT
Release Date Price: €6.55 (+1.54%)
Operator

Good morning, ladies and gentlemen, and welcome to the Commerzbank AG's 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 in the Internet. (Operator Instructions) The floor will be open for questions following Manfred Knof's and Bettina Orlopp's presentation. Let me now turn the floor over to our CEO, Manfred love. Please go ahead.

Manfred Knof
Commerzbank AG - Chairman of the Board of MD & CEO

Good morning, and welcome to our earnings call for the third quarter of 2021. We have 2 key messages today. One, we lift our net profit guidance for '21 into positive territory and; two, our transformation is fully on track. This is based on good progress and performance in the third quarter, and we are confident to reach or exceed our targets for 2021. Let's look at the key dimensions on Page 2.

Most important from a strategic perspective is that we are on track with our transformation milestones. This includes major steps in the setup of our business

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