Commerzbank Reports Mixed 9-Month Results; ECB Stress Test Results Satisfactory
A quick glance at nine-month results at Commerzbank is visually pleasing. Net interest income was up 10% to EUR 3.4 billion owing to higher interest income and lower interest expenses, net commission income was slightly down (3%), and consolidated profits came in at EUR 832 million versus EUR 120 million last year. However, the comparable period last year included EUR 807 million in restructuring expenses, which makes this year’s performance appear stronger than it is. Excluding restructuring ch...Commerzbank operates through five segments: Private Customers, which comprises the Private Customers, Direct Banking and Commerz Real divisions; Mittelstandsbank, which include the Mittelstand Germany, Corporate Banking & International and Financial Institutions divisions; Central and Eastern Europe, which consists of the universal and regional banking and direct banking activities; Corporates and Markets, which consists the Equity Markets & Commodities, Fixed Income & Currencies, Corporate Finance and Credit Portfolio Management divisions; as well as Non-Core Assets, which includes the operations of CRE Banking Germany, CRE Banking International, Public Finance and Deutsche Schiffsbank.
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