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8/7/2019, 7:05 AM (Source: TeleTrader)
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Commerzbank posts Q2 revenue of €2.13B, down 3.1%

German banking and financial services company Commerzbank AG reported on Wednesday that its revenue in the second quarter of 2019 stood at €2.13 billion, a 3.1% decrease on an annual basis. In the same timeframe, Commerzbank's earnings per share were unchanged, amounting to €0.22.

Pre-tax profit for the whole group in the three months ending June was 18.2% down from the comparable quarter in 2018, standing at €318 million, while the net interest income increased by 7.1% to €1.27 billion. In the second quarter, operating costs have been reduced by 4%, while the non-performing loan ratio was a low 0.8%. A net 232,000 new private customers were added in Germany during the first half of the year and the assets under control rose by 7.7% to €413 billion.

"We are continuing on our growth path and are making significant progress in our customer business. Despite all the successes we have made, challenges continue to increase for the industry and for us. This might require further investments. And this is exactly what we are examining and assessing in our current strategy process," Martin Zielke, Chairman of the Board of Managing Directors of Commerzbank said in a statement.

Breaking the News / MA