Commerzbank: books high restructuring costs in Q2.
(CercleFinance.com) - On Friday Commerzbank said it expects to book restructuring expenses of approximately 810 million euros in the second quarter.
The restructuring costs will result in a negative group net result in the second quarter, the German lender said in a press release.
In the statement, Commerzbank notes that negotiations with employee representatives are now "well advanced" and that the implementation of the group's new strategy is "on track".
Despite the higher restructuring charges, Commerzbank said it does not expect to report a loss for financial year 2017 from today's perspective.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The restructuring costs will result in a negative group net result in the second quarter, the German lender said in a press release.
In the statement, Commerzbank notes that negotiations with employee representatives are now "well advanced" and that the implementation of the group's new strategy is "on track".
Despite the higher restructuring charges, Commerzbank said it does not expect to report a loss for financial year 2017 from today's perspective.
Copyright (c) 2017 CercleFinance.com. All rights reserved.