Bernd Spalt fulfils current contract – but does not seek extension

• Chief Risk Officer Bernd Spalt to step down for personal reasons on 31 December 2026
• Succession plan will be communicated in due course

Bernd Spalt, Chief Risk Officer of Commerzbank, will fulfil his current contract running until the end of 2026, but has decided, for personal reasons, not to seek an extension. He has informed the Supervisory Board about his decision in the meeting on 10 February.

The Chairman of the Supervisory Board, Jens Weidmann, commented: “Bernd Spalt’s work in the Board of Managing Directors is excellent and contributes to give Commerzbank stability and trust in a challenging period. The Supervisory Board very much regrets his decision. However, I have every understanding of Mr. Spalt’s wish to move his center of life back to his family in Vienna after his contract has ended. Until then, we look forward to continuing our good cooperation.”

Bernd Spalt joined Commerzbank on 1 January 2024. He has established the risk function as a reliable partner supporting Commerzbank's strategic goals.

CEO Bettina Orlopp: “Bernd is not only an outstanding Chief Risk Officer but also a highly valued colleague. With his expertise and foresight, he made a lasting impact on Commerzbank and its risk function. I respect his decision, but at the same time, I regret it very much and wish him all the best for the future.”

Bernd Spalt: “My decision to leave the Bank is purely personal. It was the result of thorough consideration, in which the responsibility I felt towards my family was decisive. This step was not easy for me, especially because I felt at home in the Bank from the very first moment. I am convinced that Commerzbank will continue successfully on the path it has set out on and that the risk function will continue to play a decisive role in this.”

The Bank's Supervisory Board has embarked on the search for a successor and will communicate the result in due course.

Press contact

Max Hohenberg +49 69 9353 34249

About Commerzbank

With its two business segments – Corporate Clients and Private and Small-Business Customers –, Commerzbank, as a full-service bank, offers a comprehensive portfolio of financial services. It is the leading bank in the Corporate Clients Business in Germany and for the German Mittelstand and a strong partner for around 24,000 corporate client groups. Commerzbank transacts approximately 30% of Germany’s foreign trade financing. The Bank is present internationally in more than 40 countries in the corporate clients’ business – wherever its Mittelstand clients, large corporates, and institutional clients need it. In addition, Commerzbank supports its international clients with a business relationship to Germany, Austria, or Switzerland and companies operating in selected future-oriented industries. With more than €400bn assets under management, Commerzbank is also one of the leading banks for private and small-business customers in Germany. Under the brand Commerzbank, it offers a wide range of products and services with an omni-channel approach: online and mobile, via phone or video in the remote advisory centre, and personally in its around 400 branches. Under the brand comdirect, it offers all core services as a digital primary bank 24/7 and, as a performance broker, solutions for saving, investing, and securities trading. Its Polish subsidiary mBank S.A. is an innovative digital bank that serves almost 5.9 million private and corporate customers, predominantly in Poland, as well as in the Czech Republic and Slovakia.

Disclaimer

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include, amongst others, the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.