Commerzbank Q1 operating result minus €277 millionChristian Fernsby ▼ | May 13, 2020
Owing to the coronavirus crisis, Commerzbank reported an operating result of minus €277 million in the first quarter of 2020.
Commerzbank The Bank posted good development in client business
However, the Bank posted good development in client business and thereby increased its net interest and commission income overall by 10% in a comparison with the year-earlier quarter.
Deducting the negative impact arising from the coronavirus totalling minus €479 million, the Bank would have achieved an operating profit of €202 million.
In spite of the coronavirus effects, the Common Equity Tier 1 ratio at 13.2% remained at a comfortable level and forms a good basis for managing the crisis and the implementation of the Bank’s strategy.
The Bank has made considerable progress on this front. ■