Commerz gets a lift from third quarter performance
A strong performance in its fixed income business helped Commerzbank’s Corporates & Markets (C&M) division — effectively its investment bank — to an operating profit of €248m in the third quarter of 2012.
The result marked a decisive turnaround from the division’s €144m loss in the same period last year, once accounting losses and gains from movements in the bank’s own credit spreads are taken into account.
Excluding loan loss provisions and credit spread gains or losses, fixed income revenues rose ...Please take a trial or subscribe to access this content.
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