Commerzbank AG (OTCPK:CRZBY) Barclays 23rd Annual Global Financial Services Conference September 9, 2025 11:15 AM EDT
Company Participants
Carsten Schmitt - CFO & Member of the Board of Managing Directors
Conference Call Participants
Flora Bocahut - Barclays
Presentation
Flora Bocahut
Okay. Thank you very much for joining us for this presentation. So my name is Flora Bocahut. I co-head the European Banks Research here at Barclays. I'm very delighted to have with us Carsten Schmitt, Commerzbank CFO. Thank you for being here.
Carsten Schmitt
CFO & Member of the Board of Managing Directors
Thanks for having me.
Question-and-Answer Session
Flora Bocahut
So we are actually going to start with a couple of questions to the audience. The first question is what would cause you to become more positive on Commerzbank shares? First, the better NII; two, stronger fees; three, a better cost control, better asset quality, greater capital return or stronger German macro. You should have a kind of a phone in front of you where you can put your answer, and we'll give it a few seconds before we see the outcome.
Stronger German macro, I guess this one is not super surprising, followed by better NII. I guess, I don't know if you want to comment, but I would argue, rather expected answers, right?
Carsten Schmitt
CFO & Member of the Board of Managing Directors
Yes, I would have hoped for number 7, which would have said, all of the above. But I think the starting point on the stronger German macro is clearly also the main theme in all investor conversations and has been since we've seen the government indicate very strong investment packages beginning of the year.
So naturally, this is what's now expected to sim through into economy, into actual demand and then also in