The share derCommerzbankhat on Wednesday with a jump of almost 6 percent, to 4.79 euros on the published quarterly financial results is not responding. It was the highest rate since March. This bad news is not put in the balance sheet: After a small profit in the second quarter, compensating for the loss in the first quarter, however, attributed to the Commerzbank Board of managing Directors now at a loss for the full year. It would be the first since 2009.

Hanno Mußler

editor in the economy.

F. A. Z.

the management Board had Previously expected a profit for 2020, but the Corona-crisis is an even higher need for Provisioning for bad loans is likely to. For risk provisions in the total year, the Commerzbank forecast to be 1.3 to 1.5 billion euros to 1.0 to 1.4 billion euros so far. And emerging remedial measures are already planned in this year, 200 million Euro, as Finance Director Bettina Orlopp journalists, said in a telephone conference on Wednesday.

The 50-year-old Orlopp is in addition to the 57-year-old company’s customers, Board of Directors Roland Boekhout as a candidate for the succession of the Chairman of the Board Martin Zielke, the grants no later than the end of the year his Post. About Zielkes successor, the Supervisory Board determined essential to the Chairman Hans-Jörg Vetter, the German government is against the resistance of the shareholder, Cerberus just has prevailed. In financial circles, the F. A. is confirmed, for example, that the interest of Wolfgang Kirsch, the longtime Chairman of the Board of the DZ Bank, the Commerzbank Supervisory Board Chairman explored was to have been cherry but has refused.

cousin is now said to have sympathies for a new CEO from the outside. On the question of whether you could be a candidate for Chairman of the Board, said Orlopp: “No comment.” The question of the F. A. Z. whether you’ve met Mr cousin already denied you, but it will happen “soon, in a timely manner”.

The leadership crisis is crippling the Commerzbank actually Orlopp wanted to introduce at the same time, with the figures for the quarter comprehensive cost-saving measures. But, as long as no new CEO or a Director is required and your own ideas are introduced, there will be no savings plan. Orlopp made it clear that they are focused anyway on the cost. “We wait, we continue to work,” she said. Your new, slightly lowered the target for the cost in the year 2020 spent with 6.7 billion euros, including IT investment 200 million below the cost base of the previous year.

The risks by Corona represent more of a load

Orlopp admitted, however, that the year on year mined 1000 full-time equivalents on an old, in the year 2016 issued strategy, “Commerzbank 4.0” based. In September 2019 adopted “Commerzbank 5.0” is not implemented, therefore, practically, at least with regard to the planned removal of gross 4300, currently at 39700 full-time jobs. And the next round of cuts is already in front of the door.