Commerzbank AG (CRZBF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This conference will be recorded. Hello and welcome to the Commerzbank AG conference call regarding the fourth quarter results 2025. Please note that this call is being transmitted as well as recorded by audio webcast and will be subsequently made available for replay in the internet. At this time all participants have been placed on a listen only mode The floor will be open for questions following Bettina Orlop's and Carsten Schmidt's presentation. Let me now turn the floor over to our CEO, Bettina Orlop. Good morning, everyone, and welcome to our earnings call. You already saw the bottom line and capital return yesterday with our pre-release, and today we are pleased to present the full picture of our Q4 and full year performance 2025. I will present to you our overview of the year and share our strategic and financial view going forward. Afterwards, Carsten will walk you through the detailed financial performance of the fourth quarter. We can report on a very successful year for Commerzbank. We achieved our growth targets and in many areas exceeded them. We delivered a record operating result and will do return even more capital to shareholders than originally planned. This is a clear proof to the fact that our momentum strategy pays off and drives profitable growth. In 2025, we created significant value. On the financial side, we achieved an operating result of 4.5 billion euros, an increase of 18% compared to previous year. Our return on tangible equity before restructuring expenses reached 10%. This is the highest return since the global financial crisis and hitting this double digit figure is an important milestone. It demonstrates the improved strengths and profitability of Comets Bank and sets our new baseline for growth from 2026 onwards. This is complement...