1997 1998 1999 1.1.-30.9.2000

0

500

1,000

1,500

2,000

2,500

After-tax profit

Pre-tax profit

Development of

Commerzbank Group’s profits

in tm

Investor Relations

Commerzbank –

Zahlen, Fakten,

Ziele

März 1999

Investor Relations

Commerzbank –

figures, facts,

targets

November 2000

Commerzbank AGCorporate Communications Department

D-60261 Frankfurt am Mainwww.commerzbank.com

Investor RelationsJürgen AckermannTelephone 69-136-223 38Telefax 69-136-294 92E-mail ir@commerzbank.com

Regulated by SFA for the Conduct of Investment Business in the UK

Completed on November 10, 2000

3

Commerzbank – figures, facts, targets

All figures – if not stated otherwise – according to IAS

The six basic strategic goals

European partners _______________ 4

Structure of head office

Domesticbranch structure ________________ 5

The Commerzbank Group abroad

Results of the Parent Bankand of the major subsidiaries ______ 6

380,000 shareholders

Equity and market capitalization __________ 7

Performance of the Commerzbank share

Trading volume of the Commerzbank share _____________ 8

Business volumeand claims on customers

Claims on customers _____________ 9

Breakdown of assets

Breakdown of liabilities and shareholders’ equity _____________ 10

Shareholdings in the non-financial sector

Assets under management _______ 11

Liable funds

Risk-weighted assetsand capital ratios _________________ 12

ContentsIncome statement

Net interest income ______________ 13

Breakdown of net commission income

Trading profit ____________________ 14

Operating expenditure

Development of provisioning _____________________ 15

Provision forpossible loan losses Overall provision for risks _________ 16

Appropriation of profit

Pre-tax quarterly profit ___________ 17

Geographical breakdownof Commerzbank Group’spre-tax profit

Geographical breakdownof key data ______________________ 18

Breakdown of results,by corporate division

Key data, by corporate division _____________ 19

Private client business

Expansion of customer baseat comdirect bank ________________ 20

Key figures

Basic Commerzbank data _________ 21

Targets

Commerzbank’s plans for the year 2000_________________ 22

4

Allfinanz partner Banking partners

2.0%

2.1%*

4.3%*

2.0%*

2.5%

0.8%1.9%

1.1%

2.2%

Commerzbank

3.2%

BancaCommerciale

Italiana1.0%*

approx.70%

9.9%

1.1%

BancaIntesa

CréditLyonnais

Erste Bank deroesterreichischen

SparkassenBanco

SantanderCentral Hispano

Generali

approx.5.0%

approx.4.0%

10.5%*

Mediobanca

to consolidate the Bank's position as a European integrated financial institution

to place greater emphasis on selected investment-banking products

to intensify Allfinanz activities in cooperation with Generali

to become market leader in e-commerce banking

to develop the Bank's international business beyondEurope's borders, wherever attractive opportunities exist

to allocate equity capital to reflect the growth potential of business areas

Commerzbank’s six basic strategic goals

Commerzbank's European partners

Share of capital held

as of October 12, 2000; *) according to press information

5

Main branches

Regional branches

Branch offices

20

150

765*

Full product range,all management

services represented

More or less completerange of products

Private and individual customers

Corporate clientsas well

Approx. 90 branchesAll branches

Commerzbank’s domestic branch structure

as of September 30, 2000: 935 branches; *) of which: 26 Commerzbank Shops

Asset ManagementSecuritiesTreasury/

Financial Products

Retail BankingReal Estate

Corporate BankingCorporate FinanceInternational Bank

RelationsRelationshipManagement

Global OperationsInvestment Banking

IT DevelopmentIT ProductionIT Investment

BankingOrganization

Transaction Banking

Accounting and TaxesCompliance and

SecurityCorporate

Communications andEconomic Research

Credit RiskManagement

Human ResourcesInternal AuditingLegal ServicesRisk Control

Strategy and Controlling

B O A R D O F M A N A G I N G D I R E C T O R S

C o r p o r a t e d i v i s i o n s

GroupManagement

Retail Bankingand Real Estate

Corporate Bankingand Institutions

InvestmentBanking

Services

Staffdepartments

ServicedepartmentsBanking departments

Structure of Commerzbank’s head office

6

21 branches

Subsidiaries, including:

Caisse Centrale de Réescompte, S.A., ParisCommerzbank (Budapest) Rt., BudapestCommerzbank (Eurasija) SAO, MoscowCommerzbank Europe (Ireland) Unltd., DublinCommerzbank International S.A., LuxembourgCommerzbank (Nederland) N.V., AmsterdamCommerzbank (Switzerland) Ltd, Zurich/GenevaCommerzbank (South East Asia) Ltd., SingaporeCommerzbank Capital Markets Corporation,New YorkCommerz Capital Markets (Eastern Europe) a.s.,PragueCommerz Securities (Japan) Co. Ltd.,Hong Kong/TokyoJupiter International Group PLC, LondonMontgomery Asset Management, LLC,San Francisco

28 representative offices

Some 30 holdings, including:

BRE Bank SA, WarsawKorea Exchange Bank, SeoulP.T. Bank Finconesia, JakartaUnibanco – União de Bancos Brasileiros S.A.,São PauloBanque Marocaine du Commerce Extérieur,CasablancaCompagnie Monegasque de Banque S.A.M.,Monaco

The Commerzbank Group abroad

Balance-sheet total Pre-tax profit

in h m 30.9.2000 31.12.1999 30.9.2000 30.9.1999

Commerzbank AG 270,523 227,280 1,844 490

comdirect bank AG 3,073 2,311 54 5

Commerz Grundbesitz-Investmentgesellschaft mbH 25 25 5 4

CommerzLeasing und Immobilien GmbH 1,701 1,386 35 26

Hypothekenbank in Essen AG 59,928 55,932 92 102

RHEINHYP AG 71,139 63,758 170 237

Caisse Centrale de Réescompte, S.A. 4,969 5,147 8 12

Commerzbank (Budapest) Rt. 563 480 4 4

Commerzbank Europe (Ireland) Unltd. 6,255 5,642 22 23

Commerzbank International S.A. 12,921 11,351 78 128

Commerzbank (Switzerland) Ltd 541 799 24 16

Jupiter International Group PLC 529 508 86 188

Results of the Parent Bank and of the major subsidiaries

Figures in the consolidated results based on IAS. Individual company results differ in some cases, due to presentation based on GermanCommercial Code (HGB), or other national code.

7

25%

35%

36%

4%

InstitutionalInvestors Private Investors Institutional

Investors Private Investors

Germany Abroad

in terms of capital held

Commerzbank’s 380,000 shareholders

Subscribed capital as of September 30, 2000: h1,358m

1996* 1997 1998 1999 30.9.2000

6.98.0

8.8

16.6

10.1

13.6

11.1

18.7

12.5

17.9

Equity Market capitalization

Equity and market capitalization

Commerzbank Group, in h bn

*) German Commercial Code (HGB)

8

I II III IV I II III IV I II III

17.4 17.3

15.2

9.3 9.911.4

17.7

12.4

21.5

13.9

19.1

In the first nine months of 2000, trading volume in Commerzbank shares accounted for

around 2.1% of the total trading volume in shares on all German stock exchanges.

1998 1999 2000

Trading volume of the Commerzbank share

in e bn

23.7 14.3 19.9 Price/earnings ratio

1997 1998 1999 2000*100

130

160

190

220

250

280Commerzbank share price DJ Euro Stoxx banks CDAX (banks)

1)

Performance of the Commerzbank share

Month-end figures, January 1997 = 100

*) until October 31, 20001) at year-end (calculated on the basis of net income per share)

9

31.12.1996* 31.12.1997 31.12.1998 31.12.1999 30.9.2000

230.6

136.9

276.0

162.7

327.4

184.3

372.1

203.5

428.4

219.8

Business volume Claims on customers

Business volume and claims on customers

Commerzbank Group, in h bn

*) German Commercial Code (HGB)

31.12.1997 31.12.1998 31.12.1999

25.9%

27.1%

26.6%

2.2%

18.2%

25.0%

25.5%

24.8%

2.3%

22.4%

24.0%

22.7%

27.0%

3.1%

23.2%

Public authorities

Retail customers

Corporate customers

Public authorities

Corporate andretail customers

Do

me

stic

Fo

reig

n

e162.7bn e184.3bn 203.5bne

Claims on customers

Commerzbank Group

31.12.1999 30.9.2000

7,806

107,087

198,155

50,0408,952

372,040

12,068

131,448

214,099

66,2394,534

428,388

Other assets

Assets held fordealing purposes/financial investments

Claims on customers(after provisioning)

Claims on banks

Liquid funds

Total assets

Breakdown of assets

Commerzbank Group, in h m

10

31.12.1999 30.9.200031,26720,103

156,967

91,042

72,661

372,040

32,65523,479

172,466

100,027

99,761

428,388

Other liabilities

Liable funds

Securitized liabilities

Liabilities to other creditors

Liabilities to banks

Total assets

Breakdown of liabilities and shareholders’ equity

Commerzbank Group, in h m

11

1) held indirectly and directly2) held indirectly

*) Market price of Commerzbank’s holdings on September 30, 2000 in e m

Alno AG

Pfullendorf/Baden

29.4% 12*

MAN AG

Munich

6.5%2) 293*

Buderus AG

Wetzlar

10.0% 125*

PopNet Internet AG

Hamburg

13.9%2) 25*

HeidelbergerDruckmaschinen AG

Heidelberg

9.9%1) 542*

SachsenringAutomobiltechnik AG

Zwickau

10.0%2) 9*

Linde AG

Wiesbaden

10.0% 549*

Commerzbank’s shareholdings in the non-financial sector

(5% of capital and above) as of September 30, 2000

AdigGroup

Commerz-invest

CCRGroup

CICMGroup

CITC JupiterGroup

KEBIT MontgomeryGroup

Privateclients

Realestate

30,1

35,2

11,1 10,9

1,0

26,6

1,1

14,7 13,9

5,1

German entities International entities Private clients Real estate

Assets under management

in e bn

as of September 30, 2000

total: 149.7 h bn

12

Subscribed capital*Retained earnings*

Minority interests

Profit-sharingcertificates outstanding

Subordinatedliabilities

Net profit*h1.438bn

h1.358bnh9.704bn

h7.463bnh2.544bn

h0.972bn

Commerzbank Group’s liable funds

as of September 30, 2000: h23.5bn

*) Capital and reserves: t12.500bn

31.12.1999 30.9.2000

Risk-weighted assets 167,583 186,087

Capital charge for market risks 20,126 21,875

Items to be risk-weighted 187,709 207,962

Elements of equity for supervision purposes

Core capital 10,599 11,229

Eligible own funds 18,145 20,624

Capital ratios for supervision purposes in %

Core capital ratio 6.3 6.0

Equity capital ratio 9.7 9.9

Risk-weighted assets and capital ratios (as defined by BIS)

Commerzbank Group, in e m

13

1.1.-30.9.1999 1.1.-30.9.2000 Change

in h m in h m in h m in %

Net interest after provisions 1,987 2,249 262 13.2

Net commission income 1,511 2,075 564 37.3

Trading profit 614 751 137 22.3

Financial investments 94 164 70 74.5

Operating expenses 3,190 3,853 663 20.8

Other operating result -5 1,030 1,035 .

Pre-tax profit 1,011 2,416 1,405 139.0

Taxes on income 332 931 599 180.4

After-tax profit 679 1,485 806 118.7

Minority interest -51 -47 4 -7.8

Net profit 628 1,438 810 129.0

Commerzbank Group’s income statement

1996* 1997 1998 1999 1.1.-30.9.2000

3,054

857

2,197

3,349

953

2,396

3,104

881

2,223

3,207

689

2,5182,646

397

2,249

Net interest income Loan-loss provisions Net interest after provisions

+8.1%

+13.2%

-13.7%

2,447

460

1,987

Net interest income

Commerzbank Group, in e m

*) German Commercial Code (HGB)

14

18.5% 19.9% 22.2% 35.8% 33.2% generated abroad

1996 1997 1998 1999 1.1.-30.9.2000

210

10915819354

445

1,169

245

122169

204

116

601

1,457

251

115164198

208

735

1,671

335

112175

134

495

942

2,193

22290

124

161

455

1,023

2,075

Other commissions

Guarantees

Paymentstransactions

Foreign commercialbusiness

Asset Management

Securitiesbusiness

Breakdown of net commission income

Commerzbank Group, in e m

1996* 1997 1998 1999 1.1.-30.9.2000

24

66

140 127 119

42

97

192

124

263

79

250

533

56

162

Share trading Foreign-exchange business Trading in interest-rate risks

413230 288 592 751

Trading profit

Commerzbank Group, in e m

*) German Commercial Code (HGB)

15

1996* 1997 1998 1999 1.1.-30.9.2000

1,803

852

240

1,904

1,006

262

2,066

1,236

310

2,403

1,674

399

2,170

1,360

323

Personnel expenses Other expenses Depreciation on fixed and intangible assets

+17.0%

+25.4%

+15.0%

2,895 3,172 3,612 4,476 3,853

1,731

1,183

276

Operating expenditure

Commerzbank Group, in e m

*) German Commercial Code (HGB)

1999 2000

As of January 1 5,003 5,567

Allocations 845 758

Deductions 640 427 utilized 248 54 written back 392 373

Changes in foreign-exchange rates -6 20

As of September 30 5,202 5,918

Development of provisioning

Commerzbank Group, in e m

16

0.5

0.6

0.5 0.5

0.3

0.17

0.29

0.46

0.21 0.15

0.24

1995 1996 1997 1998 1999 20000

0.2

0.4

0.6

write-off ratio2)

%

provisioning ratio1)

e)

Commerzbank Group’s provision for possible loan losses

Value adjustments and loan losses (excl. country risks) 1995-2000

1) Net provision for risks as a ratio of average commercial loan portfolio, with value adjustments deducted;2) Write-offs as a percentage of average commercial loan portfolio; e) estimated

31.12.1999 30.9.2000

Counterparty risks 4,798 5,144

Country risks 224 218

General provision 354 378

Provisioning for balance-sheet items 5,376 5,740

Guarantees, endorsement liabilities,lending commitments 191 178

Total 5,567 5,918

Overall provision for risks

Commerzbank Group, in e m

17

518

I II III IV I II III IV I II III

501

255

196

288

470

326

215

360

598

468

322

1998 1999 2000

1,300**

**

*

Pre-tax quarterly profit

Commerzbank Group,in e m

*) excl. other operating result; **) incl. other operating result

1996* 1997 1998 1999 1.1.-30.9.2000

27612

332

297

34410296

489

38050

512

298

411

64

500

396

47

1,438

931

Parent company dividendsMinority interestsRetained earningsTaxes

621 650

942 975917

After-tax resultPre-tax result

1,485

2,416

1,371

1,1391,240

Appropriation of Commerzbank Group’s profit

in e m

*) German Commercial Code (HGB)

18

*) 1.1.-30.9.

Germany Europe (excl. America Asia Africa Consoli- TotalGermany) dation

Net interest incomeafter provisioning 1,790 259 169 45 -3 -11 2,249

Net commission income 1,438 435 169 82 3 -52 2,075

Trading profit 588 113 32 31 0 -13 751

Result on financialinvestments 134 29 1 0 0 0 164

Operating expenses 2,973 581 232 116 4 -53 3,853

Other operating result 1,002 11 -6 0 0 23 1,030

Pre-tax profit 2000* 1,979 266 133 42 -4 0 2,416

Pre-tax profit 1999* 560 303 102 39 7 0 1,011

Geographical breakdown of Commerzbank Group’s pre-tax profit

1.1.-30.9.2000, in h m

Germany Europe (excl. America Asia Africa Consoli- TotalGermany) dation

Pre-tax profit 697 485 146 33 10 0 1,371

Net income 481 324 121 -22 7 0 911

Risk-weighted assets1) 121,476 36,153 14,392 8,947 752 -14,137 167,583

Balance-sheet total 289,556 75,892 28,060 10,919 323 -32,710 372,040

Staff 30,557 2,605 835 804 69 – 34,870

Geographical breakdown of key data

Commerzbank Group, as of 31.12.99, in h m

1) excl. market risks

19

Retail Corporate Investment Mortgage Others* TotalBanking and Banking and Banking Banking

Real Estate Institutions

Net interest income 843 1,215 115 421 52 2,646

Provisions for possibleloan losses -98 -254 -6 -39 0 -397

Net interest incomeafter provisioning 745 961 109 382 52 2,249

Net commission income 995 460 684 -15 -49 2,075

Trading profit 0 38 791 0 -78 751

Result on financialinvestments 0 43 21 -11 111 164

Operating expenses 1,406 836 1,287 112 212 3,853

Other operating result 898 3 -31 7 153 1,030

Pre-tax profit 1,232 669 287 251 -23 2,416

Pre-tax profit (1.1.-30.9.1999) 154 582 573 331 -629 1,011

Breakdown of results, by corporate division

Commerzbank Group, 1.1.-30.9.2000, in h m

*) Group management/others and consolidation

Retail Corporate Investment Mortgage Others* TotalBanking and Banking and Banking Banking

Real Estate Institutions

Pre-tax result 1,232 669 287 251 -23 2,416

After-tax result 724 388 176 143 54 1,485

Net income 716 388 165 115 54 1,438

Equity tied-up 1,659 5,324 2,046 987 675 10,691

Return on equity** 58.2% 10.4% 23.0% 15.5% ● 17.9%

Cost/income ratio 51.4% 47.5% 81.5% 27.9% ● 57.8%

Employees (average no.) 14,818 6,961 3,280 1,029 9,576 35,664

Key data, by corporate division

Commerzbank Group, 1.1.-30.9.2000, in h m

*) Group management/others and consolidation; **) calculated by result based on internal accounting; annualized

20

31.12.1996 31.12.1997 31.12.1998 31.12.1999 30.9.2000

Retail clients 2,557,400 2,595,300 2,724,700 2,793,300 2,921,100

Individual clients 721,200 752,400 766,000 803,400 814,100

Number of custodyaccounts 891,000 958,000 1,070,000 1,200,000 1,540,000

Market value of all custody accounts* (in e bn) 149 200 243 335 311

Commerzbank AG: Private client business

*) Corporate and retail customers in Germany

31.12.1995 31.12.1996 31.12.1997 31.12.1998 31.12.1999 30.9.2000

10,892

39,60031,292

73,00061,268

109,200113,500

165,300226,159

277,100

525,000

565,000

of which: direct-brokerage customers

Expansion of customer base at comdirect bank

21

2.02

2.53 2.70 2.65 2.75

4.71

1.301.62 1.51

1.91 1.83

0.69 0.69 0.77 0.77 0.80

1995 1996 1997 1998 1999 30.9.20000

1

2

3

4

5 Pre-tax profit1) Net income Dividend2)

3.73*

*

3)

Key figures per Commerzbank share

in e

1) until 1996: operating result according to the German Commercial Code (HGB); 2) excluding tax credit; 3) extrapolated at year-end levels; *) including the proceeds from the sale of comdirect

Commerzbank Group 1996 1997 1998 1999 30.9.2000

Branches 1,045 1,044 1,052 1,064 1,060

Customers 3.66 m 3.78 m 4.21 m 5.20 m 5.68 m

Employees1) 29,334 30,446 32,593 34,870 36,382of whom: in Germany 26,901 27,782 28,719 30,557 31,904

abroad 2,433 2,664 3,874 4,313 4,478

Parent Bank

Branches 964 949 959 960 956

of which: in Germany 944 929 938 939 935abroad 20 20 21 21 21

Employees1) 26,327 26,740 28,083 29,190 29,749of whom: in Germany 24,953 25,303 26,189 27,068 27,525

abroad 1,374 1,437 1,894 2,122 2,224

Shares (in millions)2) 400.3 448.7 496.1 513.6 532.0

Basic Commerzbank data

year-end figures

1) until 1996: full-time staff; as from 1997, actual number employed; 2) dividend-bearing shares

22

Return on equity after tax 15%

Cost-income ratio1) 60%

Core capital ratio (BIS) 6.5%

Dividend upward trend, in line with earnings

Targets

1) excl. provision for risks

More efficient market presence through integration of equities and bondsoperations

Technology link-up with other companies to benefit from lower marginalunit costs

Fully integrated approach to internet and e-business

Further expansion of comdirect, including cooperation with T-Online andEuropean operations

Concentration on strengths and withdrawal from low-earnings peripheral areas

Achievement of “Financial Holding” status in the U.S.

Commerzbank’s plans for the year 2000

Notes