Commerzbank CFO Engels on Cutting Targets, Brexit, M&A

The CFO of Commerce Bank discusses the positive aspects of the bank's earnings report, including customer growth and net interest income. Challenges such as negative interest rates and adjustments to revenue targets are addressed. The bank's digitalization strategy involves internalizing projects to enhance agility. Economic conditions in Germany and potential consolidation with Deutsche Bank are considered. The impact of Brexit on operations and strategies for attracting talent are also discussed.

What was highlighted as the best part of Commerce Bank's earnings report?

• Customer satisfaction

• Net interest income

• Loan book growth

• Market share increase

Why did Commerce Bank have to adjust its revenue targets?

• Regulatory changes

• Technological advancements

• Prolonged negative interest rates

• Increased competition

What strategy is Commerce Bank adopting to become more agile?

• Outsourcing more projects

• Increasing headcount

• Swapping project costs into full-time employees

• Reducing digital initiatives

What is the main challenge in achieving competitive returns in Germany according to the CFO?

• Political instability

• Lack of skilled workforce

• Negative interest rates

• High inflation rates

How does Commerce Bank plan to handle the potential impact of Brexit?

• Merge with a UK bank

• Relocate all operations to Germany

• Cease operations in the UK

• Serve UK customers with the London team

What is the focus of Commerce Bank's talent strategy?

• Offering high salaries

• Creating an agile work environment

• Providing share options

• Increasing vacation days

What is the CFO's stance on the potential merger with Deutsche Bank?

• Opposes it

• Strongly supports it

• Has not considered it

• Focuses on current facts and avoids speculation