Commerzbank says EPS rose to €0.22 in Q2

Tuesday, 07. August 2018 07:28

German banking and financial services company Commerzbank AG said on Tuesday its earnings per share in the second quarter of 2018 amounted to €0.22, rising significantly compared to the previous year's figure of a loss of €0.51 per share.

The struggling lender announced net profit in the same quarter came in higher than analyst projections at €272 million, compared to the same quarter a year earlier when Commerzbank posted a loss of €640 million. Meanwhile, the Common Equity Tier 1 ratio stood at 13% at the end of June, just down 0.3% compared to the previous quarter.

"Our strategy implementation is progressing. We are growing and further simplifying and digitalizing our business. Of course, it will take some time for our growth initiatives to take full effect," Chief Executive Officer Martin Zielke commented on the company's financial update.

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Breaking the News / JC