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Commerzbank Q3 Profits Sink

Commerzbank Q3 Profits SinkCommerzbank Q3 Profits Sink

Commerzbank reported a net loss of €288 million ($320 million) in the third quarter on Friday, which managed to beat analyst estimates but was lower than the €235 million profit seen in the same period last year, CNBC reported. The German bank blamed the loss on “impairment on goodwill and other intangible assets” at a time when the company is undergoing a restructuring program and job losses. It also reported that its capital ratio increased to 11.8% in the last three months, rising from 11.5% in the second quarter.

 

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