Ukraine, future tax credits hit Commerzbank but IB does well
Commerzbank slumped to a €716m loss in the fourth quarter of 2012, weighed down by charges related to the sale of its Ukrainian unit and writedowns on future tax credits. Solid profits in the bank’s core businesses were hampered by provisions for loan writedowns in the non-core assets unit, as the bank warned of further charges to come in 2013.
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