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Provision – XtremeCuztoms

Tag: Provision

Commerzbank Q4 Weighed Down by Provisions at Polish MBank Unit

January 25, 2022
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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),…

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Bayer to Book Extra $4.5 Billion Provision for Roundup Litigation

July 29, 2021
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FRANKFURT—Bayer said on Thursday it would book an additional provision of $4.5 billion related to litigation which alleges that its weedkiller Roundup can cause cancer. Bayer made the announcement in an update to investors on how it plans to deal with Roundup-related lawsuits that have dogged the company since it acquired the brand as part…

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