Commerzbank Q2 net profit drops 5%, as expected; outlook confirmed
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FILE PHOTO: A company logo is pictured at the headquarters of Germany's Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski/File Photo
FRANKFURT (Reuters) - Germany's Commerzbank said on Wednesday that net profit fell 4.8% in the second quarter, in line with expectations, and it confirmed its full-year targets.
Net profit of 538 million euros ($587 million) in the quarter compares with a profit of 565 million euros a year earlier. Analysts had on average expected a profit of 539 million euros, according to a July consensus forecast published by Commerzbank.
($1 = 0.9166 euros)
(Reporting by Tom Sims and Frank Siebelt; Editing by Ludwig Burger)
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