DGAP-News: Commerzbank retains mBank - Sales process terminated
DGAP-News: Commerzbank Aktiengesellschaft
/ Key word(s): Miscellaneous
- Transaction cannot be implemented at reasonable terms due to corona crisis - Strong capital position is a good basis for the consistent implementation of the Commerzbank 5.0 strategy Polish mBank S.A. ("mBank") will remain part of the Commerzbank Group. Commerzbank has decided to retain its majority stake of 69.3% in its Polish subsidiary and to terminate the sales process. Under the current market conditions which are dominated by the coronavirus crisis, a transaction doesn't seem feasible at reasonable terms. The Bank will consistently continue to pursue its Commerzbank 5.0 strategy. The Bank's strong capital position provides a good basis for this. Commerzbank announced in September 2019 its intention to sell its majority stake in mBank. At the time the main objective of the sale was to significantly reduce risk-weighted assets and to release capital within the Group for a faster implementation of the Commerzbank 5.0 strategy. In the meantime, Commerzbank has achieved sufficient flexibility with regards to its Common Equity Tier 1 ratio. "It is clear that we will only sell such a valuable asset as mBank if the terms are right. The current market environment which is marked by the corona crisis, does not allow for an attractive valuation in line with the underlying value of mBank," said Bettina Orlopp, Chief Financial Officer of Commerzbank. "Our strong capital position gives us the leeway to implement our Commerzbank 5.0 strategy and make the planned investments without the need to sell mBank." ***** ***** About Commerzbank ***** Disclaimer and Forward-Looking Statement
11.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Commerzbank Aktiengesellschaft |
Kaiserstraße 16 | |
60311 Frankfurt am Main | |
Germany | |
Phone: | +49 (069) 136 20 |
Fax: | - |
E-mail: | [email protected] |
Internet: | www.commerzbank.de |
ISIN: | DE000CBK1001 |
WKN: | CBK100 |
Indices: | MDAX, CDAX, HDAX, PRIMEALL |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, SIX |
EQS News ID: | 1040967 |
End of News | DGAP News Service |
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1040967 11.05.2020
Commerzbank AG Aktie
Commerzbank AG erfreut sich mäßiger Beliebtheit, mit mehr Buy- als Sell-Einschätzungen.
Das Kursziel von 18 € für Commerzbank AG impliziert eine leichte Steigerung gegenüber dem aktuellen Kurs von 16.69 €.