Commerzbank alerted the market late on Monday to a €1.6bn loss for the fourth quarter of 2009, far worse than had been expected.Germany’s number two bank did not explain the figure, but said full details would be outlined on Tuesday morning.Analysts’ consensus expectation had been for a quarterly loss of about €1bn.
Commerzbank damped talk of an early end to its losses following its takeover of Dresdner Bank, reiterating that it would be profitable by 2011 at the latest but raising its estimates of the synergies it would generate from Germany’s biggest banking
Commerzbank raised its provisions against loan losses to more than €1bn ($1.48bn) in the third quarter of the year as it tackled the likely cost of its exposure to the weak economies of eastern Europe and the battered property sector.Germany’s secon
FRANKFURT - The second biggest German bank, Commerzbank, said Thursday that its operating profit climbed in the third quarter of 2009 but confirmed a heavy net loss owing to restructuring costs and writedowns. Operating profit reached 120 million e
FRANKFURT - Germany's second biggest bank, Commerzbank, posted a net third-quarter loss Monday of 1.05 billion euros due to group restructuring costs and writedowns. The bank, which was part nationalised because of the financial crisis with the Ge
FRANKFURT - Commerzbank of Germany has agreed to sell its British subsidiary Kleinwort Benson to investment group RHJ International for 225 million pounds , RHJ said in a statement. RHJ said it would pay cash for Kleinwort Benson in a deal that sho
FRANKFURT - Commerzbank, Germany's second biggest bank, is returning billions of euros in state guarantees and redrafting its models for staff pay, chief executive Martin Blessing said on Wednesday. Of a total 15 billion euros in available govern
Commerzbank is to give back unused government guarantees for its borrowing in a sign that financial market conditions are returning to normal for Germany’s second-biggest bank.Commerzbank was one of many European banks to be given state guarantees,
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