Commerzbank Reports Steep Fall In Q1 2016 Net Profit
Posted: Mon May 02, 2016 8:47 am
Germany’s Commmerzbank today reported a steep decline in first-quarter earnings, with volatile markets and low interest rates being blamed for hitting its business with German medium-sized companies particularly hard.
In its quarterly report, the bank said: “Given the increased burden in relation with the ECB’s further interest rate cut in March and the highly volatile global capital markets, it has become more ambitious to reach the consolidated profit 2015,” echoing remarks made last month by former Commerzbank Chief Executive, Martin Blessing.
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