1. 2. 3. Where are we now?

Transcrição

Competing in a consolidating world
Commerzbank – building on No. 1 Mittelstandsbank position
Martin Blessing
Member of the Board of Managing Directors
Lisbon, June 14, 2007
1.
2.
3. Where are we now?
Agenda
1.
Where are we now?
Mittelstandsbank No. 1 in Germany
2.
How did we get there?
Implementation of our “Move to the top” program
3.
Where will we go?
Expanding our wallet share of the German market
Martin Blessing, Member of the Board of Managing Directors
2 / 21
1.
2.
Our mission:
To be the leading bank for Germany`s private and corporate customers
Objectives
Private
Clients
&
Asset
Management
• One of Germany`s leading retail banks with more
than 6m customers
• No. 1 in Online Brokerage
• No. 1 for Business clients
• No. 2 home finance provider
• Among top 3 in Private Banking
Æ
Best Retail
Bank in
Germany
Æ
The best
nationwide
Bank for
(S)ME
customers
(Mittelstand)
Æ
Europe’s
leading
specialist for
Real Estate and
Public Finance
• No. 1 Mittelstandsbank in Germany
Corporate &
Investment
Banking
• Top 10 player in CEE (BRE one of the leading
banks in Poland and No. 1 Internet bank)
Commercial
Real Estate &
Public
Finance
Treasury
• Leading in Commercial Real Estate in Europe /
World
• No. 1 producer of structured retail products at the
world’s biggest retail exchange EUWAX
• Leading Public Finance institution in Germany and
Luxembourg
• Leading Pfandbrief issuer in the European market
3 / 21
1.
2.
Integrated Mittelstand approach opens up a range of opportunities
MITTELSTANDSBANK
• Main focus on our clients in Germany
• With target group-specific offers in emerging markets of Eastern Europe and Asia
• Supported by Financial Institutions business with leading position as external trade-
Germany
CEE / Asia
Mittelstand
CEE
• Small / Medium
• BRE Bank (Poland)
Enterprises
• Large Corporates
• Specialised Business*
• Participations (mainly
Schiffsbank)
• Promsvyazbank (Russia)
• CB branches/subsidiaries
•Czech
•Hungary
•Russia
Æ
Æ
Æ
financial institution and in European payment transactions plus worldwide correspondent
banking
Financial Institutions
• Business activity with
banks worldwide – more
than 5,000 contacts
• Foreign trade and
transaction finance
• ProCredit Banks (micro
credits)
• Representative Offices
Asia Pacific
• Singapore
• China (Shanghai,Hongkong)
• Japan (Tokyo)
* Center of Competences for: Global Shipping, Renewable Energies
4 / 21
1.
2.
Commerzbank`s market position in CEE
•
•
•
STRATEGIC
FOCUS

Æ
BUSINESS
MODELS
IN CEE
Æ

Æ

SME Banking / Retail Banking / Private Banking
Optimization of product and market strategies
Sales measurements for CEE
Operating units
Representative offices
ProCredit banks
Poland: BRE Bank
(72.14% participation)
Russia: CB Eurasija
(100% subsidiary) &
Promsvyazbank 15.3%
Czech: Branch Prague
Offices in Brno, Ostrava
Slovakia: Branch
Bratislava
Hungary CB
Budapest Zrt.
(100% subsidiary)

Croatia
Kazakhstan
Romania
Russia
(Moscow & Novosibirsk)
Serbia-Montenegro
Ukraine
Uzbekistan
Belarus

Bosnia-Herzegovina
Bulgaria
Serbia
Kosovo
Albania
Georgia
Romania
Aserbaijan (shortly)
5 / 21
1.
2.
Mittelstandsbank important driver to group result in Q1 2007
Operating profit Q1 2007 in € m, part of total result in %
16%
29%
19%
18%
8%
9%
266
174
145
Private- &
Business
Clients
Mittelstandsbank
Corporates
&
Markets
164
Commercial
Real
Estate
77
82
Public
Finance &
Treasury
Others
Mittelstandsbank with
highest profit
contribution
Ave. Equity tied up in € m & Operating RoE in %
22.9
35.9
31.7
15.7
26.3
4,183
2,530
Private- &
Business
Clients
2,967
Mittelstandsbank
2,197
Corporates
&
Markets
1,171
Commercial
Real
Estate
Public
Finance &
Treasury
419
Mittelstandsbank key
value driver for
Commerzbank
Others
6 / 21
1.
2.
All units of Mittelstandsbank with strong q-o-q operating profit
Germany
CEE (excl. BRE)
in € m
in € m
186
18
16
150
129
103
11
92
+ 45%
6
+ 81%
3
Q1
Q2
Q3
Q4
2006
Q1
2007
Q1
Q2
Q3
BRE
in € m
in € m
67
29
60
18
Q1
Q2
27
16
x3
Q3
Q1
2007
19
37
20
Q4
2006
x3
9
Q4
2006
Q1
2007
Q1
Q2
Q3
2006
Q4
Q1
2007
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1.
2.
Overview Mittelstandsbank
Operating profit
in € m
312
266
Operating RoE
in %
42.6
35.9
221
142
31.1
20.0
129
+ 87%
Q1
Q2
Q3
2006
Q4
Q1
2007
Commission vs. Interest income in € m
165
306
287
Q1
163
188
187
328
343
333
Q2
Q3
2006
+ 16 bp
Q2
Q3
2006
2,840
80
2,866
2,838
Q1
2007
Q1
2007
2,932
2,967
81
30
13
Q4
Q4
LLP & Ave. equity tied up in € m
Commission income
Interest income
159
Q1
18.0
Q1
Q2
Q3
2006
-46
Q4
Q1
2007
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1.
2.
Others promised – we delivered…
ASU German grading system ranking based on the criteria “Mittelstand orientation“, “quality of
relationship“ and “competitive terms“ (from 1 = very good to 6 = very poor)
2004
2005
2006
Sparkassen
Sparkassen
Commerzbank (2.67)
Volksbanken
Volksbanken
Sparkassen (2.88)
HypoVereinsbank
Commerzbank
Dresdner Bank (2.88)
Dresdner Bank
HypoVereinsbank
Volksbanken (2.93)
Commerzbank
Dresdner Bank
HypoVereinsbank (2.96)
Deutsche Bank
Deutsche Bank
Deutsche Bank (3.37)
We are grateful for our clients‘ trust – we take it as a challenge for the future
Source: Corporate Survey „Mittelstandsfinanzierung durch Banken“ conducted by Arbeitsgemeinschaft Selbständiger Unternehmer
(ASU), December 2006
9 / 21
1.
2.
3.
Agenda
1.
Where are we now?
2.
3.
Where will we go?
10 / 21
1.
2.
3.
Move to the top program – implementing a new business approach
New business model
• Enhanced customer
segmentation
• Optimized sales process
• New customer acquisition
• Product innovation &
development
Employee
development
program
Managing
capital
Move to the top
Process optimization
• End to end credit
• Optimization of Documentary
Business
• Value-based steering of
business
Cutting
operating
expenses
Achieving
optimal
provisioning
Accompanying measures
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1.
2.
3.
Successful gaining of new clients
Development of new clients 2004 – Q1 2007
Target of 2006:
9,000 new customers
already achieved in 2005
1,250
1.250
15,586
15.586
4,616
4.616
4,953
4.953
Æ
4.767
4,767
2004
2005
2006
Q1 2007
Our positive
position is
represented by
the development
in new clients
acquisition
Ende Q1
2007
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1.
2.
3.
Key financials of Mittelstandsbank in q-o-q comparison
Mittelstandsbank (segment)
Q1/2006 FY 2006 Q1/2007
Total lending Mittelstandsbank (segment)
51.3
47.6
48.1
(in € bn)
1.35
Margin on total corporate lending (in %)
1.41
1.42
0.24
Loan-loss provision ratio (in %)
0.67
0.27
36.5
Domestic corporate lending (in € bn)*
36.2
35.9
Margin on domestic corporate lending
1.34
1.43
1.41
(in %)**
Domestic corporate customers’ deposits
23.3
18.5
20.1
(in € bn)
Margin on domestic corporate customers‘
0.88
0.76
0.83
deposits (in %)
48.5
Risk-weighted assets (in € bn)***
45.1
45.6
186.9
Commission income (in € m)
159.5
674.8
333.2
Net interest income (in € m)
306.1 1,264.1
Commission income / Net interest income
FTE
Total income / FTE (in € ‘000)
Operating expenses / FTE (in € ‘000)
0.52
0.53
0.56
6,720
73
40
7,122
284
153
7,052
80
38
Strong increase in
lending resulting from
international business
activities
~ 70% of total lending
Slightly in the average
Lending with higher growth in CEE
* 3 month average of domestic EP200, ** incl. loan commissions, ***MSB entities excl. BRE goodwill
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1.
2.
3.
BRE 2006 - best result in the bank`s history – on track for
further success
BRE BANK’s POSITIONING
Retail Banking
• Record-high profitability: profit before tax at
PLN 69 m in Q1 2007 up by a factor of 6 y-o-y
• Successful launch of the Car Insurance
Supermarket
• Over 2 million accounts: Retail accounts
number up 6.9% q-o-q
• Leader in mortgage loans: Third largest
provider of new mortgage loans in Q1 2007;
with a market share of 9.4%
Corporates & Markets
• High market position: Trading & Investments
1st place (33% share) in the bank bonds market
• Growing profitability: profit before tax at PLN
137.6 m in Q1 2007 up 42 % y-o-y
• Business expansion: 606 new corporate
customers gained in Q1 2007 up 22% y-o-y
• Plans to open 20 further business offices
14 / 21
1.
2.
3.
BRE Bank strategic projects focus on Retail Banking & market
expansion
• mBank as a leader in
Internet banking
• Leader of innovation in
personal finance
• Distribution based on
cheap electronic access
channels
• Transparent &
straightforward range of
top-quality products
Maximum benefits and
convenience in
personal finance
• Bank for demanding
customers representing the
middle class
• Modern products tailored to
customers
• Multichannel service leader
• Credit card customised to
individual needs
• Innovative products for
entrepreneurs
Finance for
individual customers &
entrepreneurs
• Focussing on distribution of
financial services
• Cash loans
• Car loans
• Mortgage loans
• Products combined with
complementary insurance
products
• 10 branches & 400
representatives
Offering a beneficial partnership in
distribution of
Financial services for
retail & corporate clients
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1.
2.
3.
CB subsidiaries – enlargement of our business models due to
individual country`s specifications
Increase dynamics
of Russia –
portfolio by using
capital market
instruments
• Long-term regional presence since 1983
• Wide product range for our target
groups (German & Russian
corporate customers and financial
institutions)
Æ
Hungary
• Continuation of strong trend in operating
profit due to interest and commission income
• Our business model is focused on corporate
customers
• CB represented with 10 branches
of
Æ Implementation
InnoBanking
Czech
• Strong growth and expansion of operating
business drives the results
• Operating profit high above Q1 2006
• Units: Corporate & Investment Banking as
well as Private Banking
Russia
Enlargement of our
product range
focussed on
complex solutions
Æ
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1.
2.
3.
Financial Institutions contributes an important part to Mittelstand
Our mission
A global footprint of Commerzbank Financial Institutions
providing a broad range of products and services for banks
worldwide
Our set-up
Our success
Our clients
Central and Eastern Europe1
Trade Services
Banking products
Relationship
Manager
Cash Services
2003
1. Deutsche Bank
2. Bank of New York
3.
3. Amex
2006
1. Deutsche Bank
2. ..
3. Dresdner Bank
Market products
Client-driven organization delivers
product excellence globally
Our approach shows results in our
customer recognition
1
Ranking of the Euro Institutional Satisfaction Index
Source: FImetrix Studies 2003 – 2005
17 / 21
1.
2.
3.
Where will we go?
Agenda
1.
Where are we now?
2.
3.
Where will we go?
18 / 21
1.
2.
3.
Where will we go?
Further strategic projects support the growth path in Germany…
Products
Derivatives
Initiatives
Impact
• Doubling of revenues from derivatives
until 2010
• Build-up of additional sales-specialists combined with a qualification program
• Enlarged product-range
Increase
wallet share
Credit
• Increase of revenues in mid- & long-term credit
segment
• Value-driven growth
• Basis: risk-adjusted pricing
Large Corporates
• Intensified relationship-approach and strategic
dialogue with large corporates
• Intensified cooperation with IB units
• Focussing on capital markets and structured
products
TFTS goes global
• Ambitious growth in revenues
• Standardized access to products and services
• Extension of cross-selling
Credit is
Core business
for Commerzbank
Positioning as
strategic partner of
our customers
One service around
the world
19 / 21
1.
2.
3.
Where will we go?
In CEE we focus our client-driven approaches on high-potential markets
Being the best bank for
Germany`s Mittelstand in
CEE
Russia
• Expansion via
anorganic growth
• Increase of
portfolio
dynamics
Hungary
• Enlargement of
business model
by further
introducing
InnoBanking
Czech
• Further expansion
of product range
focussed on
complex product
solutions
BRE Bank
ProCredit
Banks & Rep.
Offices
• Intensification of
cross-border
cooperation
• Supporting SME
in transition
countries &
strengthening our
position
• Use of best
practice solutions
• Enhancing our
position as
Germany’s
leading trade
finance bank
CEE as second main pillar in the Mittelstandsbank
20 / 21
1.
2.
3.
Where will we go?
Outlook on Mittelstandsbank`s profitability
Key Initiatives
Units & Financials
Germany
Value Drivers of
Mittelstand
CEE
Financials
Æ
• Increase revenues and profitability
with large corporates
• Product initiatives
Æ
• Further expansion into selected
markets
• Intensified cross-boarder cooperation
Æ
• Demand-driven approach to further
increase our customer recognition
• Client- & product-orientated placement
guarantees for global excellence
RoE
Maintain on a sufficient level
Costs
Ongoing cost discipline
LLP
Stable outlook
21 / 21
Notes
22 / 21
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23 / 21
For more information, please contact Commerzbank´s IR-team:
Jürgen Ackermann (Head of IR)
P:
+49 69 136 22338
M:
[email protected]
Ute Heiserer-Jäckel
P: +49 69 136 41874
M: [email protected]
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P:
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M:
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P: +49 69 136 45660
Wennemar von Bodelschwingh
P:
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www.commerzbank.com/ir
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24 / 21