Commerzbank : Little to be expected from these results
>Q1 results should prompt no upward revision to consensus forecasts - Commerzbank beat forecasts but for reasons that are unlikely to prompt the consensus to an upward revision:Top-down: whilst the group beat forecasts in terms of operating profit at +13.5%, this represents only € 29m. However of this total, € 22m stems from provision that were below forecast at € 78m. Nonetheless, Commerzbank is cautiously maintaining its 2019 forecast for at least € 550m.B...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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