In the middle of the renovation, Commerzbank is returning to profitability and is now also in the black for the year as a whole. Lower overall costs and significantly less burdens from bad loans ensured that the bank earned a bottom line 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 achieve or exceed our key targets for 2021,” said Commerzbank boss Manfred Knof. Now, despite the renovation costs, a net profit is to be achieved for the year as a whole. Before the figures were published, analysts had expected a net loss of more than 100 million euros for 2021. The share rose significantly.
Financial institution – Commerzbank with profit – economy
