...FRANKFURT (S&P Global Ratings) Sept. 30, 2016--S&P Global Ratings said today that its ratings on Commerzbank AG (###+/Stable/A-2) are unlikely to be affected by the bank's announcement of new strategic and financial objectives to be implemented by 2020. As usual, we will fully explore further details of the plan. As stated in our recent analysis, we already anticipated that management would lower its profitability targets and continue focusing on cost efficiency, while expanding its core activities to address its low profit margin. We also note that management's goal to maintain a regulatory core equity Tier 1 (CET1) ratio fully loaded of about 12% at minimum, growing to 13% by 2020, is broadly in line with our projection, although improvements are slightly delayed. A key assumption behind Commerzbank's updated objectives is its ability to grow its recently pressured revenues from core business lines materially based on reallocation of resources. As stated in our outlook on Commerzbank,...
