A plan Commerzbank to double the bonus ceiling for top bankers failed. The Federal Ministry of Finance besttigte on request, the federal government voted against the project. From the perspective of the Ministry had “the bank does not begrndet convincingly” why they differ from the rules for board members and about this would go. According to information obtained by SPIEGEL ONLINE, Commerzbank was an early stage informed about the concerns of the ministry, but they could not entkrften obviously.
Commerzbank chief Martin Blessing wanted 210 Fhrungskrften knftig pay below the Executive Board bonuses that can range up to twice the fixed salary. Since 2014, the bonus for bankers but may fundamentally only be as high as their fixed Bezge. Only if the shareholders agree, the bonus may be a maximum of twice the basic salary. The German Bank
had the 2: be approved by their Eigent chambers 1 control in the past year, the Commerzbank wanted to follow suit.
The federal government has been the salvation of the Commerzbank
in the financial crisis 2008/2009 Groaktionr the Institute. The 17 percent share of the Federal falls during the vote of particular significance, because at the Aktionrstreffen barely 46 percent of the total share capital of Dax -Konzerns are represented.
bonuses of up to 140 percent for the Commerzbank Board waved the shareholders – including the federal – by contrast. An appropriate regime for the top managers of the federal hut “safe open stood Opposite”, announced the Ministry of Finance with.
“Commerzbank is a political bank”
Blessing regretted the veto. Raising wre been “the right decision economically,” he said. Supervisory Board Chairman Klaus-Peter Mller stressed the new Vergtungssystems for board members is not linked to a Gehaltserhhung. “Compared with other banks, the salaries are not unjustified in our Commerzbank or berzogen high”, was the Vice President of the German association for ownership of securities, Klaus Nieding. Yet he hut is the subject of bonuses more Fingerspitzengefhl of Conducting Bank gewnscht: “Commerzbank is not a normal bank, but a political one bank.”
The blockade of the Federation against the expansion of the bonus limits can be regarded as defeat for Blessing. Who had made the shareholders in his speech on the morning after several lean years hoping for the first Gewinnausschttung since 2007. “That’s clearly our goal. Whether it will be enough at the end of the year, we have to wait and see.” The strengthening of the capital buffers have priority.
hope on dividend
most recently the fiscal year will receive a dividend for 2007. Since Blessings took office in May 2008, the Gewinnausschttung failed. In addition, the shareholders had to swallow ten Kapitalerhhungen what their shares verwsserte massively. Only this week, the German number two got among banks around 1.4 billion euros by issuing millions of new shares.
In daily business, Commerzbank carried on at the beginning, despite extremely low interest advances. The surplus rose from 200 million euros in the same period last year to 366 million euros. However, cost the new turmoil to the Austrian bank crisis Hypo Alpe Adria EUR 200 million: Commerzbank wrote in the first quarter, the half of its 400-million commitment to the Hypo-Alpe-Abwicklungsanstalt Heta from.
The government in Vienna had early March decided to settle Heta and stop smtliche debt payments. This no longer works Brgschaften the ailing state Carinthia. First Banks filed a complaint against the actions of Austria. The Commerzbank PRFT legal action.