Commerzbank : On the right path but major challenges remain
>A broadly reassuring trend for operating performance and the capital - The group reported decent Q3 2021 figures with net income of € 403m, i.e. +60% vs the consensus’ forecasts, largely due to much weaker provisions (€ 22m, -75% vs the consensus and cost of risk at “just” 13bp based on a stable NPE ratio maintained at 0.8%) as well as a solid top-line (+1% vs the consensus at € 2.0bn, but notably underpinned by trading) and strong cost control (in line at € 1.5bn, c...Commerzbank operates through five segments: Private Customers, which comprises the Private Customers, Direct Banking and Commerz Real divisions; Mittelstandsbank, which include the Mittelstand Germany, Corporate Banking & International and Financial Institutions divisions; Central and Eastern Europe, which consists of the universal and regional banking and direct banking activities; Corporates and Markets, which consists the Equity Markets & Commodities, Fixed Income & Currencies, Corporate Finance and Credit Portfolio Management divisions; as well as Non-Core Assets, which includes the operations of CRE Banking Germany, CRE Banking International, Public Finance and Deutsche Schiffsbank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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