Commerzbank CFO Orlopp on Revenue, Rates, Bonuses

The transcript discusses Commerzbank's strong financial performance in 2021 and its positive outlook for 2022, driven by cost reduction and revenue growth. It highlights the impact of interest rate changes on revenue, particularly in the ECB area and Poland. Wage negotiations in Germany are ongoing, with cost management being a priority. The bank is also addressing geopolitical risks, with limited exposure to Russia and plans to exit Hong Kong, moving operations to Singapore and Shanghai.

What was a key factor in Commerzbank's strong performance in 2021?

• Strong core business

• Government subsidies

• Low inflation

• High interest rates

How much additional revenue is expected from mBank due to interest rate increases?

• 100 million

• 300 million

• 200 million

• 400 million

What is the expected additional revenue by 2024 if interest rates increase?

• 800 million

• 600 million

• 500 million

• 700 million

What is the new cost guidance for Commerzbank in 2022?

• €8.3 billion

• €6.3 billion

• €5.3 billion

• €7.3 billion

What was a significant change in Commerzbank's compensation strategy in 2021?

• Increased variable compensation

• Decreased fixed salaries

• Introduced stock options

• Eliminated bonuses

What is Commerzbank's exposure to Russia as a percentage of total exposure?

• 0.5%

• 2.0%

• 1.0%

• 1.5%

Where is Commerzbank relocating its Asia operations headquarters?

• Bangkok

• Tokyo

• Singapore

• Beijing