Commerzbank: consolidated earnings down in Q3

(CercleFinance.com) - Commerzbank has reported total revenues of E2.
73bn for Q3, down a moderate 0.7% on the same period a year earlier. Net interest income came to E2.04bn, down 5.5%.

Its Q3 operating income came to E886m, down 20.5%, on consolidated income of E642m (-6.2%).

The bank posted a CET1 ratio of 14.8% (vs. 14.6% a year earlier) and a net RoTE of 11.3% (vs. 14.6% a year earlier).

In the first nine months of the year, Commerzbank posted revenues of E8150m (+1.2%), with net interest income of E6251m (+0.1%), operating income of E2841m (-1.3%) and consolidated earnings of E1926m (+5.3%).

We are convinced that we will further increase our net income this year. Customer business developed very well in the third quarter', assures Bettina Orlopp, CEO of Commerzbank. She points to growth initiatives that are 'increasingly bearing fruit'. This is helping us to cushion the impact of falling interest rates and broaden our revenue base for the future, it emphasized.

Against this background, the bank is raising its forecast for net interest income from around E8.1bn to around E8.2bn for the full year.


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