Germany’s second-largest banking
group, Commerzbank, has published a strategy document for the next
three years, Roadmap 2012, with a broad aim to return to
profitability by 2011.
The bank, which has now completed the
acquisition of rival Dresdner Bank, says domestic retail banking
remains a key part of its growth plans. Commerzbank’s Private
Customer segment already has the largest network in the German
banking market, with some 1,200 branches and 10,000 employees: and
the segment will aim for a return on equity before tax of more than
30 percent by 2012.
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Wider Commerzbank group aims include an
operating profit of more than €4 billion ($5.6 billion) per year
from 2012; and a return on equity after tax of around 12 percent
from 2012. Its Central & Eastern Europe unit is targeted to
achieve an operating profit in excess of €350 million.
Under an agreement with the European
Commission, Commerzbank’s balance sheet total (including Dresdner
Bank) is also being reduced from €1.1 trillion as at 31 December
2008 to €900 billion by the end of 2012.
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