COMMERZBANK AKTIENGESELLSCHAFT

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Group Financial Statements 290 234 Commerzbank Annual Report 2011 The breakdown of interest income and interest expense from investment properties was as follows: €m 2011 2010 Change in % Rental income 61 94 – 35.1 Other income – – . Total income 61 94 – 35.1 Building and occupancy expense for rented properties 27 27 0.0 Other expenses 33 55 – 40.0 Total expenses 60 82 – 26.8 (32) Loan loss provisions The breakdown of loan loss provisions in the consolidated income statement was as follows: €m 2011 2010 Change in % Allocation to loan loss provisions – 3,467 – 4,440 – 21.9 Reversals of loan loss provisions 2,489 2,207 12.8 Direct write-downs – 594 – 459 29.4 Write-ups and amounts recovered on claims written-down 182 193 – 5.7 Total – 1,390 – 2,499 – 44.4 The breakdown of the net allocation to provisions was as follows: €m 2011 2010 Change in % Specific risks – 1,349 – 2,685 – 49.8 Claims on banks 24 19 26.3 Claims on customers – 1,376 – 2,656 – 48.2 Off-balance sheet items 3 – 48 . Portfolio risks 371 452 – 17.9 Claims on banks – 20 7 . Claims on customers 320 399 – 19.8 Off-balance sheet items Direct write-downs, write-ups and amounts 71 46 54.3 recovered on claims written-down – 412 – 266 54.9 Total – 1,390 – 2,499 – 44.4
To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 235 291 258 202 Statement of comprehensive income 260 204 Balance sheet 262 206 Statement of changes in equity 264 208 Cash flow statement 266 210 Notes 409 353 Auditors’ report (33) Net commission income €m 2011 2010 Change in % Commission income 4,055 4,237 – 4.3 Securities transactions 1,221 1,403 – 13.0 Asset management 161 175 – 8.0 Payment transactions and foreign business 1,303 1,290 1.0 Real estate lending business 193 226 – 14.6 Guarantees 230 238 – 3.4 Net income from syndicated business 272 241 12.9 Brokerage1 325 330 – 1.5 Fiduciary transactions 8 8 0.0 Other income 342 326 4.9 Commission expense 560 590 – 5.1 Securities transactions 181 182 – 0.5 Asset management 22 17 29.4 Payment transactions and foreign business 131 158 – 17.1 Real estate lending business 36 40 – 10.0 Guarantees 86 80 7.5 Net income from syndicated business 4 2 100.0 Brokerage1 67 72 – 6.9 Fiduciary transactions 3 4 – 25.0 Other expenses Net commission income 30 35 – 14.3 Securities transactions 1,040 1,221 – 14.8 Asset management 139 158 – 12.0 Payment transactions and foreign business 1,172 1,132 3.5 Real estate lending business 157 186 – 15.6 Guarantees 144 158 – 8.9 Net income from syndicated business 268 239 12.1 Brokerage1 258 258 0.0 Fiduciary transactions 5 4 25.0 Other 312 291 7.2 Total 3,495 3,647 – 4.2 1 Reclassified from other commission; prior-year figures restated. Commission income included €882m (previous year: €792m) and commission expense included €133m (previous year: €100m) from transactions with financial instruments that are not recognised at fair value through profit or loss. Group Financial Statements
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Fourth Supplement dated April 13, 2
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Financial Statements and Management
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Corporate Responsibility One bank.
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Environment As a financial services
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In a joint initiative by the overal
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Performance-related remuneration Th
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The members of the Board of Managin
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The monthly amount of the retiremen
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tion for the remainder of his term
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Loans to members of the Board of Ma
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Other details D&O liability insuran
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Details pursuant to Art. 289 of the
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up to five years effective from the
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The Supervisory Board oversees fina
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• Statements on presentation in t
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Since summer 2011, the environment
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At the beginning of December, Comme
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The changes in the individual earni
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As with the change in other assets
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Report on events after the reportin
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We assume that Germany will fare be
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the resulting impact on financial i
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The Asset Based Finance segment was
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Risk report Risk reporting takes pl
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Risk strategy and risk management T
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Macroeconomic stress tests are also
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Overview of management instruments
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The “reduction” area comprises
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Corporates & Markets This segment c
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Public Finance Commerzbank’s Asse
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Portfolio by region as at 31.12.201
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and Europe (CLOs). The exposure in
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In 2011, provisions in Central & Ea
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of the overdraft starts on the firs
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The year 2011 was mainly affected b
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The adjoining diagram documents the
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Available net liquidity in the comb
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OpRisk events by segment | €m 201
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Reputational risk Reputational risk
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Provisions for pensions are calcula
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Notes to the income statement (5) B
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(12) Securities At December 31, 201
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(16) Fiduciary transactions Financi
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(23) Other liabilities Financial St
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(27) Equity Financial Statements an
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c) Retained earnings € Financial
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(30) Non-distributable amounts Fina
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Other notes (33) Off-balance-sheet
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(34) Forward transactions Financial
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(36) Remuneration and loans to boar
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€1,000 LTP Number of participatin
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Name Registered office Share of cap
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) Associated companies Name Registe
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Foreign-exchange rates for €1 as
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Members of the Supervisory Board of
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(41) Boards of Commerzbank Aktienge
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Independent Auditor’s Report 1 To
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Significant subsidiaries and associ
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Annual Report 2011 of the Commerzba
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To our Shareholders Corporate Respo
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Group Risk Report In the Group Risk
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Recent developments Optimisation of
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COMMERZBANK AKTIENGESELLSCHAFT Fran
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Jahresabschluss und Lagebericht 201
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COMMERZBANK AKTIENGESELLSCHAFT

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