Q4 2022 Commerzbank AG Earnings call Transcript
Good morning, and welcome to our earnings call. 2022 was a very good year for Commerzbank. We delivered what we promised and the financials turned out even better than we expected. And despite all uncertainties around, we look positively into 2023. In other words, Commerzbank is back, and there is still a lot of value potential we will tackle. Let me provide you with my view on 2022 and the priorities ahead before Bettina walks you through the financials.
With a net result of EUR 1.4 billion, we have more than tripled our result of 2021. Fueled by rising rates, this is the best result for more than 10 years. At the same time, our loan book has proven to be resilient. So far, we have not seen any meaningful fallout from the economic downturn. And for 2023, we have a good cushion with our top-level adjustment of roughly EUR 500 million. This is also reflected in our very comfortable capital ratio of 14.1%, well above our target range. This superior financial performance is complemented by good progress in our transformation. The
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