The Commerzbank quarter ends very badly, one net loss of 687 million euros, compared to the profit of 113 million in the same period of 2010. The strong devaluation on Greek bonds of 798 million is the main cause. The operating result also fell and was negative by 855 million, compared to the profit of 116 million in 2010.
Due to the dramatic market situation, the German institute found itself forced to abandon next year's target operating profit which should have reached 4 billion.
In the last nine months, the bank recorded an operating profit of 334 million with a core tier ratio of 9.4%, a sharp slowdown compared to the figure of 1.1 billion euros a year ago.
