Commerzbank back in black, hits target funding for 2010

05 Aug 2010

Commerzbank reported a pre-tax profit of Eu981m for the first half of the year — a sharp turnaround from the Eu1.4bn loss it posted in the same period last year. Net attributable profit was Eu352m for the second quarter, down 50% quarter on quarter.

The bank said that trading results and lower risk provisioning requirements as well as an increase in net interest and commission income were the drivers behind the better performance of the bank.

Net interest income for the group was up by 6.1% to Eu3.747bn year-on-year for the same ...

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