Commerzbank: Q1 results down
(CercleFinance.com) - Commerzbank has reported net profit of 120 million euros for the first three months of 2019, less than half the 262 million euros in Q1 2018, along with operating profit that is down 5% at 244 million euros.
The German bank's revenues fell 3% to 2.16 billion euros, due to extraordinary items and valuation effects, although its operating costs also fell 3% to 1.83 billion euros, despite higher mandatory contributions.
Commerzbank also highlights a gain of 123,000 net new customers in its private banking and small businesses, as well as higher annual revenues from medium-sized and international businesses.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The German bank's revenues fell 3% to 2.16 billion euros, due to extraordinary items and valuation effects, although its operating costs also fell 3% to 1.83 billion euros, despite higher mandatory contributions.
Commerzbank also highlights a gain of 123,000 net new customers in its private banking and small businesses, as well as higher annual revenues from medium-sized and international businesses.
Copyright (c) 2019 CercleFinance.com. All rights reserved.