Commerzbank started the year with a jump in profits despite a significant increase in risk provisions. The surplus more than doubled in the first quarter to 284 million euros within a year, said Germany’s second largest private bank on Tuesday based on preliminary figures. A year ago, a profit of 133 million euros was still on the books in the first quarter. The operating result increased slightly to 544 million euros after 538 million euros a year ago. This significantly exceeded the analysts’ estimates of EUR 282 million. According to the preliminary figures, revenues in the first quarter increased by twelve percent to 2.795 billion euros within a year. Customer business was strong in all operational areas.
Quarterly result – Commerzbank doubles profit – Economy
