Commerz boosts profits, slashes non-core assets exposure

Michael Reuther Commerzbank
By Tessa Wilkie
07 Aug 2014

Commerzbank Group on Thursday posted a pre-tax profit of €257m in the second quarter, up from €74m in the second quarter last year, and has exceeded its 2016 target for reducing the exposure at default in its non-core asset portfolio — helping to boost its share price by over 2.3% on the day.

“Performance is improving but remains limited due to the intense deleveraging,” said BNP Paribas analysts, who expected the results to help Commerzbank’s bond spreads.

Commerzbank’s shares were quoted at around €10.64 at lunchtime on Thursday, up from €10.38 on Wednesday’s close.

Pre-tax profit in the corporate ...

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