Commerzbank: share down after interim results

(CercleFinance.com) - The Commerzbank share is down 2.
9% in Frankfurt on Wednesday morning, after the German bank published H1 2019 net profit that is down 27% at 391 million euros, in addition to operating profit that is down 18% at 542 million euros.

H1 revenues fell by 2.5% to 4.28 billion euros, with "This development was primarily due to the marked drop in the fair value result mainly in the Corporate Clients segment".

Commerzbank expects to report a slight increase in FY net income, "although this target has become significantly more ambitious," the group said, particularly citing the noticeable worsening of the macroeconomic situation and increasing geopolitical uncertainty.


Copyright (c) 2019 CercleFinance.com. All rights reserved.