Financial institution – Commerzbank with profit – economy

In full renovation, Commerzbank returns to profitability and also promises black figures for the whole year. Lower overall costs and significantly lower bad debt charges enabled the bank to achieve net income of 403 million euros in the third quarter. A year ago there was a loss of 60 million euros. “After good progress in the third quarter, we are confident that we will meet or exceed our key targets for 2021,” said Manfred Knof, CEO of Commerzbank. Now, despite the renovation costs, a net profit is to be made over the whole year. Prior to the release of the figures, analysts were forecasting a net loss of more than 100 million euros for 2021. The share has increased significantly.

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