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Commerzbank quarterly profit rises as loan losses fall
February 12, 2015 / 6:17 AM / 3 years ago

Commerzbank quarterly profit rises as loan losses fall

FRANKFURT, Feb 12 (Reuters) - Commerzbank’s fourth-quarter net profit edged higher to 77 million euros, better than expected, as a falloff in loan loss provisions helped compensate for weaker revenue.

The bank’s chief executive, Martin Blessing, pledged to keep operating expenses at the group stable in 2015 but said market conditions would remain challenging for the year.

Analysts polled by Reuters had on average expected Germany’s second-largest bank by balance sheet size to post a quarterly net result of 58.5 million euros. (Reporting by Thomas Atkins; editing by Arno Schuetze)

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