Home / Banks / Comparison

Commerzbank vs Deutsche Bank

Side-by-side credit pricing comparison from Pillar 3 disclosures.

Last updated: March 2026 · Data source: public Pillar 3 disclosures
Verdict:

On a representative BBB+ EUR 25M 5-year term loan, Deutsche Bank is the cheaper lender by 7bp in minimum spread. For a EUR 25M facility, that's EUR 16,984 per year.

Bank profiles compared

Metric Commerzbank
Germany		 Deutsche Bank
Germany
IRB approachMixedMixed
Cost-to-income57.0%64.0%
Effective tax rate27.6%26.8%
Avg corporate PD2.70%4.26%
Avg LGD unsecured39.7%31.1%
Avg LGD secured20.0%20.0%
Funding spread (bp)22bp20bp
Corporate EADEUR 92bnEUR 244bn

Sample RAROC: BBB+ EUR 25M 5Y term loan

Both banks priced on the exact same deal — 150bp spread, 20bp commitment fee, 60-month maturity. Higher RAROC means the bank earns more from this deal. Lower min-spread means the borrower gets a better rate.

Component Commerzbank Deutsche Bank
Annual revenueEUR 385,000EUR 385,000
Operating costEUR 154,000EUR 154,000
Expected lossEUR 28,750EUR 28,750
Capital required (FPE)EUR 2,451,320EUR 2,451,320
RAROC (after tax)6.46%6.70%
Min spread for 12% RAROC275bp268bp
This is just one sample deal.

Your actual portfolio has different ratings, sizes, maturities, and collateral. The cheapest bank for one deal isn't always cheapest for another. Upload your real facilities and OpenRAROC will run the same calculation on each, against Commerzbank, Deutsche Bank, and 57 other banks.

Compare your portfolio

Read more

Commerzbank full profile Deutsche Bank full profile All banks RAROC methodology

FAQ: Commerzbank vs Deutsche Bank

Which bank is cheaper on corporate credit: Commerzbank or Deutsche Bank?
On a BBB+ EUR 25M 5-year term loan, Deutsche Bank requires a minimum spread of 268bp to reach a 12% RAROC hurdle, versus 275bp at the other bank — a difference of 7bp on the same deal.
How do Commerzbank and Deutsche Bank compare on corporate PD?
Commerzbank reports an EAD-weighted corporate PD of 2.70%, while Deutsche Bank reports 4.26%. The gap reflects differences in obligor mix and geography rather than underwriting quality.
How do the two banks differ on IRB approach?
Commerzbank uses Mixed and Deutsche Bank uses Mixed. The IRB approach determines whether internal LGD models or supervisory LGDs apply, which materially affects capital required on every corporate facility.
What deal is used in this comparison?
A single standardised facility: BBB+ rated, EUR 25M drawn on a EUR 30M commitment, 5-year tenor, 150bp spread, 20bp commitment fee. Both banks are priced on this exact deal using their own disclosed Pillar 3 parameters.