Risk costs snag Commerz as outlook worsens

Commerz2_alamy_230x150
By Jasper Cox
07 Aug 2019

Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.

Operating profit in the division was €22m, versus €218m in the equivalent quarter last year and a consensus estimation of €145m, according to results released on Thursday.

The three main reporting lines performed well, however. Mittelstand revenues were up 2% to €437m; international corporates were up 4% to ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.