8/5/2020, 7:12 AM (Source: TeleTrader)
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Commerzbank's revenues up 7% YoY to €2.3B in Q2

Commerzbank AG revealed on Wednesday that its revenues amounted to €2.27 billion in the second fiscal quarter of 2020, representing a rise of 6.8% compared to the same timeframe a year ago.

Operating profit came in at €205 million in the second trimester, declining 33.8% on a yearly basis. Operating expenses landed at €1.35 billion, a figure 3.3% lower than in the second three-month period of 2019, while consolidated profit dropped by 21.2% year over year to €220 million.

"We increased our revenues and our CET [Common Equity Tier] 1 ratio in the second quarter, but the operating profit was negatively impacted by the risk result. It is all the more important that we reduce our costs in order to be able to cushion future burdens." CFO Bettina Orlopp noted in a press release.

Breaking the News / MS