Commerzbank : A profit warning ….upwards
>Q3 2019 results ahead of expectations - Commerzbank has reported Q3 2019 operating profit of € 448m vs a consensus at € 346m. The detailed publication is maintained for 7 November.Revenues = € 2,183m vs consensus = € 2,136m: the lion’s share of the difference comes from loan volumes. To this must be added € 13m of net capital gains.Costs excl. restructuring = -€ 1,621m vs consensus = -€ 1,645m: Commerzbank underscores cost optimisation measures and “more ef...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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