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ots Ad hoc-Service: Commerzbank AG <DE0008032004> Commerzbank raises dividend to EURO 0.80
Pre-tax profit up more than one-fifth

Frankfurt am Main (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
On the basis of preliminary results, the Commerzbank Group ended
1999 with a pre-tax profit (according to IAS) of around EURO 1.5bn,
which is more than one-fifth higher than a year earlier. After
sharply increased tax expenses and amounts due to minority interests
have been deducted, the remaining net profit allows another EURO 500m
to be allocated to retained earnings. Shareholders will also benefit
from the improved results in the form of a 4% increase in the
dividend to EURO 0.80 (=DM1.56) per share. This proposal will be made
by the bank's board of managing directors at the supervisory board
meeting on March 27. The overall dividend payment will rise to EURO
411m (1998: EURO380m). At the supervisory board meeting on February
7, Martin Kohlhaussen, chairman of the board of managing directors,
reported continuing expansion of the Group's balance sheet, reflected
in the 17% increase to EURO 382bn in total assets compared with a
year earlier. A striking feature of the bank's income statement is
the rise of roughly 30% in net commission income. Despite a weaker
fourth quarter, the bank's earnings from proprietary trading were
around 50% higher than a year earlier. Even with additional
write-downs made for Philipp Holzmann, loan-loss provisions for the
year remained within the expected framework and were thus down by a
good quarter on those for 1998. Net interest income after
provisioning therefore improved more than 15%. Through earnings
mainly achieved on disposals from the bank's portfolio, and
especially through the sale of its stake in DBV-Winterthur, another
good result was achieved on financial investments. While earnings
were much higher overall, operating expenses also registered a strong
increase of over 20%, due, however, to special factors and higher
investments for future growth.
End of Message
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