Banks

Commerzbank Q1 net profit drops by half

Share

Commerzbank posted a 52 percent drop in first-quarter net profit on Tuesday, hit by volatile capital markets and the drag on earnings from low interest rates.


Hannelore Foerster | Bloomberg | Getty Images

The net income of 163 million euros ($188 million) was in line with the expectations of analysts, who had on average forecast a net profit of 166 million.

Germany's second-biggest lender had already flagged that first-quarter net profit would come in below the 187 million euros posted in the fourth quarter of 2015.

Commerzbank names retail bank head Zielke as new CEO from May
Deutsche Bank halts N Carolina expansion plans over anti-gay law

Follow CNBC International on Twitter and Facebook.