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Commerzbank Q1 operating result minus €277 million

Christian Fernsby |
Owing to the coronavirus crisis, Commerzbank reported an operating result of minus €277 million in the first quarter of 2020.

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Temporary valuation effects exerted a negative impact here along with a higher risk provision booked on account of the pandemic.

However, the Bank posted good development in client business and thereby increased its net interest and commission income overall by 10% in a comparison with the year-earlier quarter.

Deducting the negative impact arising from the coronavirus totalling minus €479 million, the Bank would have achieved an operating profit of €202 million.

In spite of the coronavirus effects, the Common Equity Tier 1 ratio at 13.2% remained at a comfortable level and forms a good basis for managing the crisis and the implementation of the Bank’s strategy.

The Bank has made considerable progress on this front.

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