BERLIN—Shares in Commerzbank fell 5 percent in Lang & Schwarz pre-market trade on Monday after Germany’s Finance Minister said the government would not keep its stake in the lender in the long run. “In the long run, the state will not be a shareholder in Commerzbank,” Christian Lindner was quoted as saying by Handelsblatt newspaper….
Commerzbank Q4 Weighed Down by Provisions at Polish MBank Unit
FRANKFURT—Commerzbank on Friday said its fourth-quarter earnings would be impacted by provisions made at its Polish mBank subsidiary but that it would still post a net profit for the full year. The German lender said mBank had made provisions regarding the foreign currency indexed loan agreements in the amount of 2.006 billion zloty ($504 million),…
Deutsche Bank and Commerzbank Warn on Inflation; BNP Wants Growth
FRANKFURT—The chief executives of Germany’s two top banks, Deutsche Bank and Commerzbank, warned about inflation on Friday, while the chairman of BNP Paribas said the real issue is growth. The bankers were speaking at a conference in Frankfurt as investors closely watch the European Central Bank for its reaction to accelerating inflation. Deutsche Bank CEO…
Commerzbank Forecasts 2021 Profit as European Banks Post Strong Third Quarter
FRANKFURT—In the midst of a major overhaul, Germany’s Commerzbank on Thursday posted better-than-expected third-quarter net earnings and forecast a profit for the full year, defying analysts’ predictions for a 2021 loss. The quarterly results were supported by a decrease in provisions set aside to cushion the fallout from the pandemic, as well as lower costs….
Commerzbank Reports $3.3 Billion Q4 Loss as It Counts Cost of Restructuring, Pandemic
FRANKFURT—Germany’s Commerzbank reported a $3.3 billion fourth-quarter loss on Thursday, sinking further into the red as it continued a major restructuring and dealt with the fallout of the COVID-19 pandemic. Its shares fell nearly 6 percent in mid-morning trade. Germany’s No. 2 bank also said it would swiftly implement plans to cut 10,000 jobs and…
Commerzbank CEO Finalizes Plans to Cut 10,000 Jobs, Close Branches
FRANKFURT—Commerzbank Chief Executive Manfred Knof on Feb. 3 finalized plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul that came a month after he took the reins of Germany’s No. 2 bank. The bank also announced that it would post a net loss of nearly 2.9 billion euros ($3.5 billion) for…
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