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January, 24, 2017

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Commerzbank says profits climbed in Q2 on retail banking performance

FRANKFURT--Commerzbank, Germany's second-biggest bank, said Thursday that its net profit more than doubled in the second quarter thanks to favorable results in its retail banking operations and lower risk provisions.

Commerzbank said in a statement that its bottom-line net profit rose to 100 million euros (US$134 million) in the period from April to June, up from 40 million euros a year earlier.

Underlying or operating profit rose to 257 million euros from 74 million euros while revenues fell by 3.0 percent to 2.241 billion euros.

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