Commerzbank AG (BSE:CBKN)
lei 72.74 0 (0%) Market Cap: 85.74 Bil Enterprise Value: -123.12 Bil PE Ratio: 8.32 PB Ratio: 0.52 GF Score: 65/100
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Q2 2020 Commerzbank AG Earnings Call Transcript

Aug 05, 2020 / 07:00AM GMT
Release Date Price: lei23 (+4.55%)
Bettina Orlopp
Commerzbank AG - CFO, Head of Tax, IR, Treasury & Member of the Board of MDs

Good morning, ladies and gentlemen. Welcome to our earnings call on the second quarter 2020. Before I start with my presentation of the quarterly results, I would like to spend some words on our strategy process.

As said at several occasions throughout the year, we have thoroughly reviewed our strategy in the Managing Board. This review challenged larger parts of our business model, incorporating learnings and also opportunities from the corona crisis, with a strong focus on additional cost initiatives. We have achieved a great deal of progress with our review, but it seems sensible to have our new CEO in charge before taking and communicating decisions. This is why, unfortunately, I can't give an update today that goes beyond our current plan.

Now let me start with the presentation of our Q2 results that are characterized by substantial revenue rebound, good cost discipline and a strong capital ratio. Our customer business has shown a stable development compared to Q2 last year. In

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