2013 for Commerzbank is on file, ending with a return to profit, at 78 million against the loss of 47 million recorded in 2012. Operating profit, however, fell to 725 million against 1,2 billion in 2012 The net intermediation margin was also down, falling by 5% to 6,15 billion from 6,49 in 2012. In the fourth quarter alone the bank reported a net profit of 64 million against the loss of 726 million reported in the same period of the previous year, due to extraordinary charges.
“In this year of transition – commented the president of the German institute Martin Blessing – we achieved a strong operating result both at group level and in our bank's core business. As promised, we have invested in growth and, at the same time, we have continued to reduce our costs” commented the president Martin Blessing.
Meanwhile, today's session got off to a decidedly positive start for the German bank, trading up 2,95% in Frankfurt mid-morning.
