May 15, 2018 / 5:16 AM / 7 days ago

CORRECTED-Commerzbank first-quarter pretax profit drops on higher costs

(Corrects second paragraph to pretax profit, not net profit)

FRANKFURT, May 15 (Reuters) - Commerzbank’s pretax profit declined by 12 percent in the first quarter amid weak markets and as the German lender saw costs increase despite its restructuring efforts.

The 289 million euro quarterly pretax profit at Germany’s second-largest lender after Deutsche Bank was roughly ahead of analysts expectations of 276 million euros, according to a Reuters poll of seven banks and brokerages. (Reporting by Arno Schuetze Editing by Edward Taylor)

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