Commerzbank CFO Engels Says 2020 Profit Depends on Overhaul Cost Timing

The transcript discusses the realistic approach and strategic decisions made by Commerzbank in response to market conditions. It highlights the focus on growth through customer and asset expansion, despite slower economic growth and potential recession. The bank's strategy includes minimizing deposit growth and redirecting investments to existing customers. The discussion also touches on the impact of interest rates and the importance of profitability and restructuring.

What strategic move did Commerzbank make earlier than others?

• Focusing on deposit growth

• Investing in chips

• Exiting prop trading

• Entering the prop trading market

What is the current economic trend in Germany according to the transcript?

• Stagnation

• Rapid growth

• Slower growth

• Recession

What external factor is mentioned as influencing economic volatility?

• European Union policies

• Middle East tensions

• Brexit negotiations

• US-China trade conflicts

What is Commerzbank's focus in terms of growth strategy?

• Deposit growth

• Customer and asset growth

• Reducing customer base

• Increasing interest rates

What is a key factor affecting Commerzbank's profit outlook for 2020?

• Interest rate hikes

• Expansion into new markets

• Restructuring agreements

• Increased deposit rates