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IMPLIED MARGIN OF SAFETY (beta)
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Book Value ps -24.6%

FINANCIAL BRIEF: For the three months ended 31 March 2013, Commerzbank AG interest income decreased 25% to EUR3.29B. Net interest income after loan loss provision decreased 27% to EUR1.09B. Net loss totaled EUR94M vs. income of EUR355M. Net interest income after loan loss provision reflects Mittelstandsbank segment decrease of 34% to EUR379M, Private & Business Customers segment decrease of 14% to EUR396M, Germany segment decrease of 34% to EUR728M. more »

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BROKER FORECASTS
31st Dec 2013
31st Dec 2014

Price Target: €9.80 (+26.21% above Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: -3.5% (€) (€) (€) (€) (€) (€)
Consensus Estimate
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28 brokers BROKER CONSENSUS & FORECAST TREND
Broker Recommendations for COMMERZBANK AG
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 8 5 12 0 3

Named Brokers and Analysts
There are no named brokers.

COMMERZBANK AG is a Germany-based bank for private and corporate customers in Germany. The bank operates six business segments: Private Customers, which operates Retail, Business and Wealth Management Customers, Sales Retail and Business Customers North-East and South-West, Sales Wealth Management, and Credit operating units, among others; Mittelstandsbank, which operates Small and Medium Enterprises, Large Corporations, Corporate Banking, Corporates International and Financial Institutions units; Central & Eastern Europe, which operates CEE-Holding/Subsidiaries & Branches, BRE Bank and Bank Forum units; Corporates & Markets, which operates Equity Markets & Commodities, Fixed Income Trading, Corporate Finance, Fixed Income Sales, Client Relationship Management, and Research units, among others; Asset Based Finance, which operates CRE Germany, Public Finance and Ship Finance units, among others, and Portfolio Restructuring Unit, which operates Portfolio Restructuring Unit.

Directors: Klaus-Peter Mueller (Chmn.-Sup.) 68, Martin Blessing (Chmn.-Mgt.) 49, Uwe Tschaege (Vice Ch.-Sup.) , Stephen Engels (CFO) , Frank Annuscheit (COO) 50, Stefan Schmittmann (CRO) 56, Ulrich Sieber (Dir.-HR) , Tanja Birkholz (Dir.-IR) , Markus Beumer (Mgt.Bd.) 48, Jochen Kloesges (Mgt.Bd.) ,

No. of Employees: 54,068 No. of Shareholders: n/a


Last Annual December 31st, 2012
Last Interim March 31st, 2013
Shares in Issue 1,138,387,606
Free Float 437.2m (38.4%)
Sector Financials
Industry Banking Services
Index
Exchange London Stock Exchange
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