230967 com titel gb 02 e

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40 MANAGEMENT REPORT participations as well as 900 individual property companies. With its four segments, Structured Investments, Own Investments, CFB Funds and Moveable Goods Leasing, and also its service units, it covers the entire spectrum of leasing and real-estate business. New business expanded by practically a third last year to 72.4bn, with real estate accounting for 71.8bn and moveable goods 70.6bn. This growth is all the more remarkable since overall business investment and also leasing investment both declined over the same period. Most new business in real estate was generated abroad; but in Germany as well, we achieved an encouraging increase of almost 16%. In moveable goods, new business was a fifth higher. The following important transactions last year are worthy of mention: In structured investments, a 7370m US lease for a municipal drainage plant and also the 7120m financing of a complete production facility. Integration of a New York office building, with a volume of US$300m and capital of US$107m, into a CFB fund. Within a few weeks, all of the East Building – New York fund had been sold to over 3,000 investors, increasing the amount of equity placed by CFB in connection with closed-end funds to 73.2bn. The most important event in the leasing of moveable goods was the formation of ComSystems GmbH in the field of IT financing, a joint venture with DaimlerChrysler. Commerz Grundbesitz German market leader In 2002 as well, the Commerz Grundbesitz Group registered disproportionately strong sales successes. Under the roof of a holding company, the group consists of Commerz Grundbesitz-Investmentgesellschaft mbH (CGI), which manages the open-ended property fund Haus-Invest, and Commerz Grundbesitz-Spezialfondsgesellschaft mbH (CGS), which looks after business related to non-publicly-offered funds. Last year almost 72.9bn of new funds flowed into Haus-Invest – roughly a quarter of the entire net inflow for all of Germany’s open-ended property funds. This record inflow was immediately invested in attractive real estate. At yearend, the fund was managing properties in nine countries and 57 cities; the non- German share of these assets rose once again to reach around 76%. Haus- Invest’s assets now exceed 710bn, making it the largest fund of this type in Germany with a market share of a good 14%. CGS, formed in 2001, has launched two property funds especially for institutional investors, acquiring for these funds 15 properties overall, for which it invested an amount of about 7280m.
Group companies and equity participations in the Corporate and Investment Banking division Corporate Banking department BRE Bank SA Warsaw 50.0% Commerzbank International (Ireland) Dublin 100.0% 2) Unibanco – União de Bancos Brasileiros S.A. São Paulo 8.6% 1) Securities department CBG Commerz Beteiligungsgesellschaft Holding mbH Bad Homburg v.d.H. 100.0% Commerz Securities (Japan) Company Ltd. Hong Kong/Tokyo 100.0% Real Estate department Commerz Grundbesitzgesellschaft mbH Wiesbaden 100.0% Commerzbank (Budapest) Rt. Budapest 100.0% Commerz (East Asia) Ltd. Hong Kong 100.0% Commerzbank Capital Markets Corporation New York 100.0% CommerzLeasing und Immobilien AG Düsseldorf 100.0% 1) The Parent Bank holds some of the interest indirectly. 2) The Parent Bank holds the interest indirectly. CORPORATE AND INVESTMENT BANKING 41 Commerzbank (Eurasija) SAO Moscow 100.0% P.T. Bank Finconesia Jakarta 51.0% Commerzbank Capital Markets (Eastern Europe) a.s. Prague 100.0% Commerzbank (Nederland) N.V. Amsterdam 100.0% 2) Banque Marocaine du Commerce Extérieur, S.A. Casablanca 10.0% Commerz Futures, LLC Chicago 100.0% 1)
Page 1 and 2: annual report 2002
Page 3 and 4: annual report 2002 commerzbank grou
Page 5: contents Management report Survey o
Page 8: Association of German Banks have he
Page 11 and 12: Encouraging growth of savings depos
Page 13 and 14: The balance of other operating inco
Page 15 and 16: Corporate governance On February 26
Page 17 and 18: Quarterly results 2001 financial ye
Page 19 and 20: Commerzbank - partner of Germany’
Page 21 and 22: Teachers’ information club As par
Page 23 and 24: Product design Taking account of en
Page 25 and 26: structure of commerzbank group Grou
Page 28 and 29: 24 MANAGEMENT REPORT Retail Banking
Page 30 and 31: 26 MANAGEMENT REPORT The Commerzban
Page 32 and 33: 28 MANAGEMENT REPORT Asset Manageme
Page 34 and 35: 30 MANAGEMENT REPORT shareholder se
Page 36 and 37: Founded in 1993, the Otto von Gueri
Page 38 and 39: 34 MANAGEMENT REPORT Corporate Bank
Page 40 and 41: 36 MANAGEMENT REPORT Geographical s
Page 42 and 43: 38 MANAGEMENT REPORT Systematic cli
Page 46: 42 MANAGEMENT REPORT COMMERZBANK WO
Page 49 and 50: 46 MANAGEMENT REPORT Changes in ful
Page 51 and 52: 48 MANAGEMENT REPORT In management
Page 53 and 54: ... the best for everyone.
Page 55 and 56: 52 MANAGEMENT REPORT Turnover in Co
Page 57 and 58: 54 MANAGEMENT REPORT The Commerzban
Page 59 and 60: Marienbibliothek Halle In 1552, Hal
Page 61 and 62: 58 MANAGEMENT REPORT Risk report Co
Page 63 and 64: 60 MANAGEMENT REPORT Risk-managemen
Page 65 and 66: 62 MANAGEMENT REPORT In retail-cust
Page 67 and 68: 64 MANAGEMENT REPORT *) We presente
Page 69 and 70: 66 MANAGEMENT REPORT necessary for
Page 71 and 72: 68 MANAGEMENT REPORT Risk volume, s
Page 73 and 74: 70 MANAGEMENT REPORT Among other th
Page 75 and 76: 72 MANAGEMENT REPORT Monitoring and
Page 77 and 78: 74 MANAGEMENT REPORT Value-at-Risk
Page 79 and 80: 76 MANAGEMENT REPORT In close coord
Page 81 and 82: 78 MANAGEMENT REPORT Market-liquidi
Page 83 and 84: 80 MANAGEMENT REPORT Monitoring and
Page 85 and 86: landesmuseum mainz Landesmuseum Mai
Page 87 and 88: 84 financial statements in accordan
Page 89 and 90: 86 OVERVIEW Notes Notes to (69) Der
Page 91 and 92: 88 INCOME STATEMENT Appropriation o
Page 93 and 94: 90 statement of changes in equity S
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92 cash flow statement 2002 2001 7
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94 notes Consolidated accounting pr
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96 NOTES In addition to the standar
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98 NOTES Special-purpose entities
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100 NOTES the asset’s value be pe
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102 NOTES (8) Offsetting We set lia
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104 NOTES In line with the material
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106 NOTES (27) Treasury shares Trea
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108 NOTES Merger of RHEINHYP Group
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110 NOTES Deferred tax assets and l
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112 NOTES (31) Net commission incom
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114 NOTES (35) Operating expenses T
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116 NOTES (39) Taxes on income Inco
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118 NOTES (42) Segment reporting Th
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120 NOTES The balance on expenses/i
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122 NOTES Quarterly results, by bus
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124 NOTES 3 rd quarter 2002 Retail
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126 NOTES Results, by geographical
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128 NOTES (45) Claims on customers
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130 NOTES Provision for possible ri
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132 NOTES (50) Investments and secu
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134 NOTES (53) Changes in book valu
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136 NOTES (56) Liabilities to banks
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138 NOTES (59) Liabilities from dea
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140 NOTES (61) Tax liabilities (62)
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142 NOTES Profit-sharing certificat
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144 NOTES b) Capital reserve In the
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146 NOTES (67) Authorized capital D
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148 NOTES Notes to financial instru
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150 NOTES As of December 31, 2001,
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152 NOTES 31.12.2001 Holding period
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154 NOTES (73) Assets pledged as se
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156 NOTES (75) Fair value of financ
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158 NOTES (78) Volume of managed fu
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160 NOTES (81) Trust transactions a
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162 NOTES Reconciliation of reporte
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164 NOTES (85) Average number of st
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166 NOTES (88) Letter of comfort In
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168 NOTES Declaration of compliance
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170 NOTES Holdings in affiliated an
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172 NOTES Affiliated companies incl
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174 NOTES Other major companies not
Page 179 and 180:
“When it’s finished, the world
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178 Martin Kohlhaussen Report of th
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180 REPORT OF THE SUPERVISORY BOARD
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182 REPORT OF THE SUPERVISORY BOARD
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184 Committees of the supervisory b
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186 BOARD OF MANAGING DIRECTORS 187
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group managers Jochen Appell Chief
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managers of foreign branches Antwer
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managers of foreign group companies
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Dipl.-Kaufmann Wolfgang Steinbach M
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Detlef Schulz Public Accountant and
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Dr. Rolf-Jürgen Freyberg Chief Exe
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Mecklenburg-Western Pomerania Prof.
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Kurt Küppers Managing Partner Hül
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Karlheinz Röthemeier Chairman of t
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seats on supervisory boards and sim
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Members of the Supervisory Board of
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Employees of Commerzbank AG Informa
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DAX 30 Deutscher Aktienindex (Germa
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Rating agencies Initially in the US
Page 219 and 220:
index Accounting 94f., 100f., 103,
Page 221:
Commerzbank AG Head office Investor
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