Q1 2019 Commerzbank AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the Commerzbank Conference Call. Please note that this call is being transmitted as well as recorded by audio webcast and will subsequently be made available for replay in the Internet. (Operator Instructions)
Let me now turn the floor over to Stephan Engels.
Good morning, ladies and gentlemen. Welcome to our conference call on the results of the first quarter of 2019.
In Q1, we have maintained our momentum in the implementation of our strategy, Commerzbank 4.0 and have achieved an operating results of EUR 244 million. Firstly, we have continued to progress on our committed growth path. We have added a total of 123,000 net new customers in PSBC Germany, well in line with our goal of 500,000 net new customers in 2019. The economics of new customers are holding up, and their contributions have been important mitigant to the negative interest rate environment, tighter margins and increased regulatory burden in the last years.
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