Commerzbank: Q2 loss greater than expected.
(CercleFinance.com) - The Commerzbank share is down 2.
5% in Frankfurt today, after the company posted a net loss of 637 million euros for the second quarter of 2017, compared to a profit of 215 million euros for the same period in 2016.
The German bank integrated all of its restructuring costs in the second quarter, which amounted to 807 million euros, which the market had integrated, although its net loss is nevertheless greater than expected (-537 million euros), said broker Aurel BGC.
Commerzbank's operating profit was virtually halved at 181 million euros, with revenues falling by almost 8% to 2.07 billion euros, again on an annual basis.
The bank's CET 1 solvency ratio nevertheless improved significantly, reaching 13% at the end of the Q2, against 12.5% at the end of March, and the group expects slightly positive net profit for the whole year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5% in Frankfurt today, after the company posted a net loss of 637 million euros for the second quarter of 2017, compared to a profit of 215 million euros for the same period in 2016.
The German bank integrated all of its restructuring costs in the second quarter, which amounted to 807 million euros, which the market had integrated, although its net loss is nevertheless greater than expected (-537 million euros), said broker Aurel BGC.
Commerzbank's operating profit was virtually halved at 181 million euros, with revenues falling by almost 8% to 2.07 billion euros, again on an annual basis.
The bank's CET 1 solvency ratio nevertheless improved significantly, reaching 13% at the end of the Q2, against 12.5% at the end of March, and the group expects slightly positive net profit for the whole year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.