Commerzbank Q2 profit more than doubles on retail banking

Commerzbank
Hannelore Foerster | Bloomberg | Getty Images

Commerzbank's second-quarter net profit more than doubled to 280 million euros ($307 million) as the German lender benefited from strong retail banking activities, beating analysts expectations.

Germany's second-biggest bank said on Monday that it still plans to pay a dividend for 2015, adding that its core equity tier 1 ratio of 10.5 percent takes into account a dividend accrual for first half of 2015 of 10 cents per share.

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Analysts had expected Commerzbank's net profit to reach 256 million euros.

Chief Financial Officer Stephan Engels said the group was still aiming to increase revenues and market share in 2015 despite headwinds.

"The framework conditions for the banking sector are difficult and will remain so in the foreseeable future."

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