Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (10 lettori)
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- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
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Topgun1976
Guest
Quindi se non cè scritto nulla il post call è uguale al pre??Thanks
Topgun1976
Guest
E' quello che sto facendo io, ho gia' AXA, BA e Aegon
A me non Dispiacciono Nemmeno quelli vs il 4,2% o più,tipo Axa Abn
bosmeld
Forumer storico
ragazzi uscita la trimestrale di commerzbank,
*Commerzbank: perdita netta 3* trim. a 1,05 mld euro
*Commerzbank: core capital ratio fine settembre appena sotto 11%
*Commerzbank: conferma obiettivi fino a 2012
*Commerzbank: prevede perdita netta per intero 2009
*Commerzbank: se necessario liquidera' riserve
FRANCOFORTE, 2 novembre (Reuters) - Commerzbank (CBKG.DE: Quotazione) ha registrato nel terzo trimestre un risultato operativo positivo per circa 120 milioni di euro ma una perdita netta di 1,05 miliardi a causa di svalutazioni e costi di ristrutturazione legati a Dresdner.
Le attese erano per una perdita operativa di 94 milioni di euro e di una perdita netta di 696 milioni.
In una nota che anticipa i risultati trimestrali, attesi in settimana, la banca tedesca prevede un risultato di gruppo per tutto il 2009 negativo. Al 30 settembre il Tier I si attesta poco sotto l'11%.
TRIMESTRALE ASSOLUTAMENTE PEGGIORE DELLE ASPETTATIVE....
Commerzbank Posts Third-Quarter Loss on Dresdner Bank Costs Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Jann Bettinga
Nov. 2 (Bloomberg) -- Commerzbank AG, Germany’s second- biggest bank, reported a third-quarter net loss of 1.05 billion euros ($1.56 billion) because of expenses tied to the integration of Dresdner Bank.
Costs related to Dresdner Bank, which Commerzbank acquired in January, totaled 900 million euros, the Frankfurt-based bank said in a statement today. It didn’t provide last year’s third- quarter figure. The bank also booked about 650 million euros of goodwill writedowns, mainly at its Eurohypo unit.
Chief Executive Officer Martin Blessing sought 18.2 billion euros in capital from the German state to carry the bank through the financial crisis. The company forecast a net loss for 2009 and said the bank’s core capital ratio, a measure of financial strength, was “just under” 11 percent at the end of September.
Commerzbank posted an operating profit of about 120 million euros in the third quarter, helped by a rebound in the value of its structured products.
MARKET TALK: Commerzbank, dati 3* trim. da cause eccezionali
MILANO (MF-DJ)--I dati sul terzo trimestre pubblicati da Commerzbank, con un anticipo di tre giorni, sono stati pesantemente guidato da circostanze eccezionali. La ristrutturazione del portafoglio ha beneficiato delle svalutazioni degli asset mentre la banca ha anche provato a realizzare guadagni dalla vendita degli asset, riferisce un analista. Comunque i costi di ristrutturazione per Dresdner e le svalutazioni per l'avviamento di Eurohypo sono stati di molto superiori alle attese. Il titolo ha chiuso in rialzo dell'1,3%, a 7,19 euro. red/alc [email protected] (END) Dow Jones Newswires November 02, 2009 12:55 ET (17:55 GMT) Copyright (c) 2009 MF-Dow Jones News Srl.
vedremo domani come reagiranno le quotazioni....
dresden gli sta creando più problemi de previsto....
per me o più possibilità io di vincere ER premio nobelle per la leteratura
che loro di pagare le prossime cedole
cmq è solo mia opinione...
c'è però da dire che sembra stiano facendo una bella pulizia
*Commerzbank: perdita netta 3* trim. a 1,05 mld euro
*Commerzbank: core capital ratio fine settembre appena sotto 11%
*Commerzbank: conferma obiettivi fino a 2012
*Commerzbank: prevede perdita netta per intero 2009
*Commerzbank: se necessario liquidera' riserve
FRANCOFORTE, 2 novembre (Reuters) - Commerzbank (CBKG.DE: Quotazione) ha registrato nel terzo trimestre un risultato operativo positivo per circa 120 milioni di euro ma una perdita netta di 1,05 miliardi a causa di svalutazioni e costi di ristrutturazione legati a Dresdner.
Le attese erano per una perdita operativa di 94 milioni di euro e di una perdita netta di 696 milioni.
In una nota che anticipa i risultati trimestrali, attesi in settimana, la banca tedesca prevede un risultato di gruppo per tutto il 2009 negativo. Al 30 settembre il Tier I si attesta poco sotto l'11%.
TRIMESTRALE ASSOLUTAMENTE PEGGIORE DELLE ASPETTATIVE....
Commerzbank Posts Third-Quarter Loss on Dresdner Bank Costs Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Jann Bettinga
Nov. 2 (Bloomberg) -- Commerzbank AG, Germany’s second- biggest bank, reported a third-quarter net loss of 1.05 billion euros ($1.56 billion) because of expenses tied to the integration of Dresdner Bank.
Costs related to Dresdner Bank, which Commerzbank acquired in January, totaled 900 million euros, the Frankfurt-based bank said in a statement today. It didn’t provide last year’s third- quarter figure. The bank also booked about 650 million euros of goodwill writedowns, mainly at its Eurohypo unit.
Chief Executive Officer Martin Blessing sought 18.2 billion euros in capital from the German state to carry the bank through the financial crisis. The company forecast a net loss for 2009 and said the bank’s core capital ratio, a measure of financial strength, was “just under” 11 percent at the end of September.
Commerzbank posted an operating profit of about 120 million euros in the third quarter, helped by a rebound in the value of its structured products.
MARKET TALK: Commerzbank, dati 3* trim. da cause eccezionali
MILANO (MF-DJ)--I dati sul terzo trimestre pubblicati da Commerzbank, con un anticipo di tre giorni, sono stati pesantemente guidato da circostanze eccezionali. La ristrutturazione del portafoglio ha beneficiato delle svalutazioni degli asset mentre la banca ha anche provato a realizzare guadagni dalla vendita degli asset, riferisce un analista. Comunque i costi di ristrutturazione per Dresdner e le svalutazioni per l'avviamento di Eurohypo sono stati di molto superiori alle attese. Il titolo ha chiuso in rialzo dell'1,3%, a 7,19 euro. red/alc [email protected] (END) Dow Jones Newswires November 02, 2009 12:55 ET (17:55 GMT) Copyright (c) 2009 MF-Dow Jones News Srl.
vedremo domani come reagiranno le quotazioni....
dresden gli sta creando più problemi de previsto....
per me o più possibilità io di vincere ER premio nobelle per la leteratura
che loro di pagare le prossime cedole
cmq è solo mia opinione...
c'è però da dire che sembra stiano facendo una bella pulizia
Ultima modifica:
Zorba
Bos 4 Mod
Appunto Commerz non paga i coupons dei Profit Participation Certificates....
November 02, 2009
Pre-announcement from Commerzbank regarding Q3 2009 reporting:
Commerzbank's operating result in Q3 2009 is positive at approximately EUR 120 m. The result of the Portfolio Restructuring Unit profited from impairment gains. A review of goodwill led to write-downs of approximately EUR 650 m.
The goodwill impairments largely result from the previously announced strategic reorientation of Eurohypo and the subsequent changes in revenue expectations. They became necessary with the new segment structure.
In Q3 the goodwill impairments and the planned restructuring expenses for the Dresdner Bank integration (EUR 0.9 bn) led to a net profit of minus EUR 1.05 bn.
The core capital ratio (Tier 1) as of 30.9.2009 is just under 11%.
There are no changes to the targets of the 'Roadmap 2012'.
For the 2009 business year for both Commerzbank AG und Group a negative annual result (net loss) is expected. In case of a net loss at the AG, the liquidation of reserves or special reserves (Sonderposten according to § 340g German Commercial Code) for the granting of profit-related payments on equity related instruments is not permitted further to EU regulations and further to the agreements with the SoFFin. In this case profit-related equity instruments may not be serviced.
For the Profit Participation Certificates of Commerzbank AG, predominantly held by retail investors, this means that no coupon payment can be expected for the year 2009. Insofar as necessary and legally permitted, Commerzbank will liquidate reserves and special reserves (Sonderposten according to § 340g German Commercial Code) for the fiscal year 2009 in order to prevent a reduction in the book value of its equity related instruments.
The following Profit Participation Certificates of Commerzbank AG are traded and listed on a regulated market:
6.375% 31.12.2009 01.07.2010 DE0008164062
7.000% 31.12.2009 01.07.2010 DE0008164070
6.375% 31.12.2010 01.07.2011 DE0008032053
November 02, 2009
Pre-announcement from Commerzbank regarding Q3 2009 reporting:
Commerzbank's operating result in Q3 2009 is positive at approximately EUR 120 m. The result of the Portfolio Restructuring Unit profited from impairment gains. A review of goodwill led to write-downs of approximately EUR 650 m.
The goodwill impairments largely result from the previously announced strategic reorientation of Eurohypo and the subsequent changes in revenue expectations. They became necessary with the new segment structure.
In Q3 the goodwill impairments and the planned restructuring expenses for the Dresdner Bank integration (EUR 0.9 bn) led to a net profit of minus EUR 1.05 bn.
The core capital ratio (Tier 1) as of 30.9.2009 is just under 11%.
There are no changes to the targets of the 'Roadmap 2012'.
For the 2009 business year for both Commerzbank AG und Group a negative annual result (net loss) is expected. In case of a net loss at the AG, the liquidation of reserves or special reserves (Sonderposten according to § 340g German Commercial Code) for the granting of profit-related payments on equity related instruments is not permitted further to EU regulations and further to the agreements with the SoFFin. In this case profit-related equity instruments may not be serviced.
For the Profit Participation Certificates of Commerzbank AG, predominantly held by retail investors, this means that no coupon payment can be expected for the year 2009. Insofar as necessary and legally permitted, Commerzbank will liquidate reserves and special reserves (Sonderposten according to § 340g German Commercial Code) for the fiscal year 2009 in order to prevent a reduction in the book value of its equity related instruments.
The following Profit Participation Certificates of Commerzbank AG are traded and listed on a regulated market:
6.375% 31.12.2009 01.07.2010 DE0008164062
7.000% 31.12.2009 01.07.2010 DE0008164070
6.375% 31.12.2010 01.07.2011 DE0008032053
Ultima modifica:
Mais78
BAWAG fan club
Yes sir
Topgun1976
Guest
Bayern LB – $9.8B
May 19, 2008 – 7:42 am 2008-05-19 – Off Balance:
Banks are not writing down their write downs and getting away with it. Instead they are writing them down in the balance sheet and there is a distinction.
Bayern was hiding $3.1 billion on the balance sheet, but we will balance thing out for them by adding $3.1 billion to their existing $6.7total bringing them up to $9.8 billion.
2008-04-03:
When times are good companies low ball their future earnings estimates to later report not just great, but ”better than expected earnings’,’ and watch the stock run wild. Then these are not good times:
There will be no high or low balling future subprime write downs just the flat admission that know one knows how much.
It was the last day at the office for Bayerische Landesbank’s Chief Executive Officer Werner Schmidt. Thats the penalty he paid for booking $2.8 billion in write-downs related to the U.S. subprime loan crisis. BayernLB, invested about 4 billion euros in the US subprime- segment.
May 19, 2008 – 7:42 am 2008-05-19 – Off Balance:
Banks are not writing down their write downs and getting away with it. Instead they are writing them down in the balance sheet and there is a distinction.
Bayern was hiding $3.1 billion on the balance sheet, but we will balance thing out for them by adding $3.1 billion to their existing $6.7total bringing them up to $9.8 billion.
2008-04-03:
When times are good companies low ball their future earnings estimates to later report not just great, but ”better than expected earnings’,’ and watch the stock run wild. Then these are not good times:
– Bayerische Landesbank reported 4.3 billion euros ($6.7 billion) in writedowns from the subprime- market collapse, double its previous estimate and the biggest of any German state bank.
The fiscal year 2007 write down total comes to $1.88 or $2 billion. The first quarter of 2008 ushered in a fresh $1.7 billion in subprime disaster.
There will be no high or low balling future subprime write downs just the flat admission that know one knows how much.
“The main problem is no one can tell today how the market will develop in the future,” said new CEO Michael Kemmer, who replaced Schmidt last month. The bank will probably post a loss in the first quarter and can’t make forecasts beyond that because of market volatility and possible writedowns, he said.
With that we reitirate the past.
- $3.6 billion on the 2007 accounts
- $3.1 billion euros for the first quarter of 2008
It was the last day at the office for Bayerische Landesbank’s Chief Executive Officer Werner Schmidt. Thats the penalty he paid for booking $2.8 billion in write-downs related to the U.S. subprime loan crisis. BayernLB, invested about 4 billion euros in the US subprime- segment.
Topgun1976
Guest
WestLB AG – $4.8B
May 19, 2008 – 7:35 am 2008-05-19 – Off Balance:
Banks are not writing down their write downs and getting away with it. Instead they are writing them down in the balance sheet and there is a distinction.
WestLB AG was hiding $1.6 billion on the balance sheet, but we will balance thing out for them by adding $1.6 billion to their existing $32.2 total bringing them up to $4.8 billion.
2008-01-05 Bail Out:
The ailing reality of WestLB is catching up. After months of soft selling it’s subprime related causalities documented below reality set in as the EU came to the rescue.
2008-02-04:
We were curious to see how West LB AG would fare and it seems to be much worse than expected for the wear:
2008-17-02:
Beyond the garden variety subprime related losses WestLb AG has suffered catastrophic trading losses in the first half of 2007 of €604m ($825m), and a scandal which forced Rolf Gerlach (the chairman of the bank’s supervisory board) to leave.
From FT.com:
May 19, 2008 – 7:35 am 2008-05-19 – Off Balance:
Banks are not writing down their write downs and getting away with it. Instead they are writing them down in the balance sheet and there is a distinction.
WestLB AG was hiding $1.6 billion on the balance sheet, but we will balance thing out for them by adding $1.6 billion to their existing $32.2 total bringing them up to $4.8 billion.
2008-01-05 Bail Out:
The ailing reality of WestLB is catching up. After months of soft selling it’s subprime related causalities documented below reality set in as the EU came to the rescue.
2008-02-04:
We were curious to see how West LB AG would fare and it seems to be much worse than expected for the wear:
The loss of 1.6 billion euros ($2.5 billion) exceeded the company’s 1 billion-euro estimate from February. Germany’s third- biggest state lender said today it wrote down 2.01 billion euros and expects further markdowns in the first quarter.
The bank also sang the same old refrain ”more write downs expected’.’ But it is time — past time — to go from curious to serious on West LB AG and keep an eye on the ailing nature of its existence:
“WestLB is living on borrowed time,” said Simon Adamson, an analyst at CreditSights in London. “If it hadn’t been for the support from the state and owners, WestLB wouldn’t still exist. You always expect the worst from WestLB.”
‘Nuff said — and $3.14 billion in first quarter 2008 write downs with more to come.
2008-17-02:
Beyond the garden variety subprime related losses WestLb AG has suffered catastrophic trading losses in the first half of 2007 of €604m ($825m), and a scandal which forced Rolf Gerlach (the chairman of the bank’s supervisory board) to leave.
From FT.com:
April 2007: Last year, WestLB was first hit by an equity trading scandal that cost more than €600m in writedowns and led to the dismissal of Mr Fischer as the bank’s risk-control once again came under scrutiny.
Estimates of the annual losses have been upwards of a billion euros ($1.46 billion) with writedowns of as much, but so far the bank has reported 2007 results only through its third quarter. According to its press release of December 6, the bank posted a € -116 million pre tax loss for the first nine months of 2007. In addition postbank said it had taken a €61 million write down related to subprime exposure in the third quarter.
WestLB also has two SIVs — Harrier and Kestrel — with a combined volume of more than $13 billion. The bank provided a credit guarantee of more than $11 billion to Harrier Finance; a forced move to prevent the erosion of the bank’s capital base further.
Reading the bank’s final score card will be difficult until it reports full year 2007 results. So far we have only the € -116 million pre tax loss plus the €61 million write down (a total of about $82M in outright loss), but then there’s that 11 billion euro albatross around WestLB’s neck spelled “SIV.” It will be interesting to see how they book the expense. Let’s hope it doesn’t collapse all at once!
Topgun1976
Guest
Commerzbank – $32.1B
November 3, 2008 – 10:08 am 2008-11-03 Q3 Report:
Commerzbank fell into the arms of a German government bailout. The bank took $1.43B in write-downs, and raised $30B from the German taxpayer. Despite the capital increase, the bank nevertheless increased its provision for loan losses.
Here’s the tally thus far:
2008-08-06 Q2 Profits:
Commerzbank, Germany’s second-largest bank by assets, reported a profit of €17M ($1.27B) in the second quarter, aided by a one time tax gain. Commerzbank also took write-downs of $64.75M and loan loss provisions of $908.1M. We are still searching for the bank’s level 3 equivalent, so we set it to zero for now.
Here’s the tally thus far:
2008-02-15:
Commerzbank reported net income of €201M ($293M) in the fourth quarter, down from €359M a year earlier. The declined removed some of the polish from full-year net income of €1.92B.
Commerzbank had write-downs of $54M and $428M in the second and third quarters of 2007, respectively. For the fourth quarter, the bank took additional write-downs on its subprime-linked investments of €248M ($364.2M) for a grand total of €583M ($855.6M) in subprime-related write-downs.
November 3, 2008 – 10:08 am 2008-11-03 Q3 Report:
Commerzbank fell into the arms of a German government bailout. The bank took $1.43B in write-downs, and raised $30B from the German taxpayer. Despite the capital increase, the bank nevertheless increased its provision for loan losses.
Here’s the tally thus far:
- Write-Downs/Charge-Offs: $150.25M + $1.43B = $1.58B
- Cash Raised: $29.9B
- Level III assets: $0
- Loan Loss Reserves: $628M
2008-08-06 Q2 Profits:
Commerzbank, Germany’s second-largest bank by assets, reported a profit of €17M ($1.27B) in the second quarter, aided by a one time tax gain. Commerzbank also took write-downs of $64.75M and loan loss provisions of $908.1M. We are still searching for the bank’s level 3 equivalent, so we set it to zero for now.
Here’s the tally thus far:
- Write-Downs/Charge-Offs: $85.5M + $64.75M = $150.25M
- Cash Raised: $0.0
- Level III assets: $0
- Loan Loss Reserves: $908.1M
2008-02-15:
Commerzbank reported net income of €201M ($293M) in the fourth quarter, down from €359M a year earlier. The declined removed some of the polish from full-year net income of €1.92B.
Commerzbank had write-downs of $54M and $428M in the second and third quarters of 2007, respectively. For the fourth quarter, the bank took additional write-downs on its subprime-linked investments of €248M ($364.2M) for a grand total of €583M ($855.6M) in subprime-related write-downs.
- Stato