Commerzbank boosts profits in spite of drop in fixed income revenues
Commerzbank racked up pre-tax profits of €324m in the first quarter, up from a loss of €29m in the same quarter the year before. The bank made a profit despite dismal trading conditions for the fixed income and currencies business.
Commerzbank’s corporates and markets division recorded pre-tax profits of €215m for the first quarter, down from €272m in the first quarter of 2013. Revenues before loan loss provisions were €542m, down slightly from €584m in the same period last year.
Lower activity in syndicated lending and leveraged ...Already a subscriber? Login