Commerzbank CFO Engels Says 2020 Profit Depends on Overhaul Cost Timing

The transcript discusses the realistic economic outlook and strategies for growth amidst slower economic growth and potential recession. It highlights the importance of focusing on customer and asset growth while managing the impact of negative interest rates. The discussion also touches on political decisions affecting the economy and the need for strategic adjustments to maintain profitability.

What strategic move did Commerzbank make earlier than the rest of the market?

• Investing heavily in chips

• Focusing on deposit growth

• Entering the prop trading market

• Exiting prop trading

What is the current economic trend observed in Germany according to the transcript?

• Immediate recession

• Rapid economic growth

• Stable economic conditions

• Slower growth with potential for technical recession

How does Commerzbank plan to address the negative interest rate environment?

• By investing in new technologies

• By focusing on deposit growth

• By reducing customer base

• By increasing customer and asset growth

What is Commerzbank's stance on passing negative interest rates to retail clients?

• They will pass it to clients with low deposits

• They plan to pass it to all retail clients

• They will not pass it to broad retail clients

• They will pass it to all corporate clients

What factors will influence Commerzbank's profit in 2020?

• The expansion into new markets

• The growth of the global economy

• The increase in deposit rates

• The extent of restructuring agreements