by Amruth Sundarkumar | Sep 28, 2022 | Banks, Global
Commerzbank said that it would take a €490mn ($471mn) hit on its Q3 operating profit after its Polish mBank unit booked additional provisions for its Swiss franc loans. The German banking major said that despite the hit, it is expected to reach its net profit target...
by Amruth Sundarkumar | Aug 4, 2022 | Banks, Global, Investment Grade Bonds
Germany’s Commerzbank reported a consolidated net profit of €470mn ($478.9mn) for Q2 vs. a net loss of €527mn ($536.9mn) in the previous year. Total revenues were at €2.4bn ($2.5bn), up 30.1% YoY driven by strong customer business and rising interest rates. Net...
by Amruth Sundarkumar | Jul 1, 2022 | Banks, Credit Ratings
Commerzbank’s long term issuer and senior unsecured ratings were downgraded to A2 from A1 by Moody’s. This is due to expectations that the “volume of its loss-absorbing bonds will be reduced” relative to the size of the German bank’s balance sheet. Based...
by Amruth Sundarkumar | Jan 24, 2022 | Banks
German lender Commerzbank announced on Friday that its Q4 earnings, expected on February 17, will include provisions of ~$504mn from its Polish subsidiary mBank. The provisions are related to foreign currency indexed loan agreements from over a decade ago when...
by Amruth Sundarkumar | Aug 5, 2021 | Banks
Commerzbank reported net losses of €527mn ($624mn) in Q2 vs. net profits of €183mn ($217mn) in 2Q2020. For H1, net losses stood at €394mn ($466mn) vs. losses of €107mn ($127mn) during the same period last year. Losses occurred with restructuring costs of €511mn...
