Back to black: Commerzbank to repay government after 2010 recovery

23 Feb 2011

Commerzbank hailed its return to profitability in its 2010 results on Wednesday, with the bank beating analysts’ expectations for the fourth quarter of the year and announcing plans to begin the repayment of state aid in 2011.

Reporting a 16% increase in group-level annual revenues to Eu12.7bn and a profit of Eu1.35bn, compared to a loss of Eu4.7bn in 2009, the bank said that it had a number of options to start paying down Berlin’s Eu16bn silent participation in the bank, including capital management, sales ...

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