The net profit of German banking group Commerzbank in the second quarter is rose to 275 million euros against the 24 million of the same period last year. In 2011, however, the result was strongly influenced by the write-downs of 760 million of Greek government bonds.
Operating profit is 451 million against 55 million in the second quarter of 2011, sthe capitalization target requested by the EBA was exceeded by 2,8 billion euros, the European banking authority: Core Tier 1 has risen to 12,2% of risk-weighted assets.
However, Commerzbank is very cautious on the outlook: “We do not expect any stabilization of the macroeconomic framework and of the financial markets in the second half of 2012. Faced with this scenario, we expect second half net income to be lower to that achieved in the first six months”, is written in the note of the German bank.
