Commerzbank: towards a small profit in 2017.
(CercleFinance.com) - Commerzbank said on Thursday that its strategy implementation was on track after generating an operating profit of 1.
14 billion euros in the first nine months of the year, up from 1.06 billion euros in the same period of 2016.
For the third quarter alone, operating profit rose to 629 million euros, compared to 429 million euros in the same period of 2016.
Commerzbank - which is trying to increase profitability through divestments, cost focus and digitalisation - said that its business has grown - both in terms of clients and assets.
After reporting earnings of just 66 million euros in the first nine months of the year, due to heavy restructuring costs, the bank still expects slightly positive net profit in 2017.
Overall, the Commerzbank stock was reacting positively to this news, adding 2.1% at almost 12 euros and posting the best performance in Germany's DAX index in early morning trading today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
14 billion euros in the first nine months of the year, up from 1.06 billion euros in the same period of 2016.
For the third quarter alone, operating profit rose to 629 million euros, compared to 429 million euros in the same period of 2016.
Commerzbank - which is trying to increase profitability through divestments, cost focus and digitalisation - said that its business has grown - both in terms of clients and assets.
After reporting earnings of just 66 million euros in the first nine months of the year, due to heavy restructuring costs, the bank still expects slightly positive net profit in 2017.
Overall, the Commerzbank stock was reacting positively to this news, adding 2.1% at almost 12 euros and posting the best performance in Germany's DAX index in early morning trading today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.