Commerzbank AG / Final Results/Acquisition 27.03.2009 Release of a UK Regulatory Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Commerzbank publishes 'Pro-Forma' accounts for the 2008 financial year - Dresdner Bank purchase price at EUR 4.7 bn (as per closing) - Core capital ratio (Tier 1) with about 10% adequate Commerzbank has published today 'Pro-Forma' accounts for the 2008 financial year. In accordance with IFRS 3 all of Dresdner Bank's assets and liabilities are stated with their fair value at closing. The balance is set off against Dresdner Bank's equity capital (purchase price allocation). The 'Pro-Forma' accounts also take into account the business relations between the two companies, changes in consolidated entities (full consolidation of Schiffsbank, sale of cominvest and Oldenburgische Landesbank) and the sale of a portfolio of collateralized debt obligations to Allianz. As per closing, the purchase price for Dresdner Bank is around EUR 4.7 billion. This takes into account that the price is partially paid with new shares in Commerzbank. Based on the closing price of the Commerzbank share as at January 12, 2009 (closing date) of EUR 4.56, the corresponding 163.5 million shares had a total value of approximately EUR 0.7 billion. The equity capital of Dresdner Bank in the pro forma accounts totals around EUR 3.9 billion, resulting in a goodwill of about EUR 0.8 billion. As already communicated, the core capital ratio (Tier 1) of the new Commerzbank in the 'Pro -Forma' accounts is about 10%. Not accounting for the 2009 agreements with the Financial Market Stabilization Fund (Sonderfonds Finanzmarktstabilisierung, SoFFin) and Allianz, the core capital ratio (Tier 1) is around 7%. In the 2008 financial year, the operating profit was at minus EUR 5.4 billion. The loan loss provisions in the year under review were minus EUR 3.6 billion. A moderate decrease in the loan loss provision is expected in 2009. EUR 4.6 billion was charged against the revaluation reserve in 2008. A significantly lower charge of the revaluation reserve is expected in 2009. According to IFRS 3 the 'Pro-Forma' accounts may be subject to adjustments for a period of up to 12 months following the closing date. As a result, the 'Pro-Forma' figures calculated on the basis of the 2008 income statements and the respective balance sheets of Commerzbank and Dresdner Bank are provisional. Extract of the 'Pro-Forma' accounts for the 2008 financial year in EUR m Comm- Dresdner Transit- Pro forma figures erzb- Bank ional for the new ank effects Commerzbank Net interest income 4,729 3,017 -421 7,325 Provision for possible Loan -1,855 -1,671 -27 3,553 losses Net commission income 2,846 2,162 -332 4,676 Trading profit -450 -4,313 80 -4,683 Net investment income -665 731 15 81 Other results -27 -68 -36 -131 Operating expenses 4,956 4,519 -306 9,169 Operating profit -378 -4,661 -415 -5,454 Restructuring expenses 25 0 -13 12 Taxes on income -465 1,535 -138 932 Consolidated surplus 3 -6,279 -276 -6,570 attributable to Commerzbank shareholders Equity 19,904 4,494 -1,580 22,818 Minority interests 657 1,736 160 2,552 TOTAL 625,1 420,961 -578 1,045,579 96 Note: All figures are as of January 12, 2009 (closing date for takeover). For more details, see https://www.commerzbank.de/en/hauptnavigation/aktionaere/vortrag/praesenta tionen.html Contact: Commerzbank AG Group Communications Tel.: +49 69 136 - 22830 mediarelations@commerzbank.com DGAP 27.03.2009 --------------------------------------------------------------------------- Language: English Issuer: Commerzbank AG Kaiserplatz 60261 Frankfurt am Main Deutschland Phone: +49 (069) 136 20 Fax: - E-mail: ir@commerzbank.com Internet: www.commerzbank.de ISIN: DE0008032004 Indices: DAX, CDAX, HDAX, PRIMEALL Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), Hannover, München, Hamburg, Düsseldorf, Stuttgart; Terminbörse EUREX; Foreign Exchange(s) London, SWX Category Code: ACS LSE Ticker: CZB Sequence Number: 146 Time of Receipt: March 27, 2009 08:40:13 End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-UK-Regulatory: Commerzbank publishes 'Pro-Forma' accounts for the 2008 financial year
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