Commerzbank reports Q2 loss of €201m

by Richard Kilner

Story link: Commerzbank reports Q2 loss of €201m

Commerzbank has released its financial results for the second quarter of 2009, recording a net loss for the quarter of €201m.

However, despite making a loss the German bank has made a substantial improvement on the first quarter when it incurred a loss of €591m.

There was some good news with the Private Customers and Mittelstandsbank business achieving a profit of €206m, despite the continuing difficulty in the operating environment.

The bank also saw, from Q1 to Q2, operating revenue increasing by 31% to €3.1bn.

Managing Board Chairman Martin Blessing responded to the results pragmatically, describing the year as a difficult one but stating his own confidence that the firm remained on the right track.

Blessing went on to say that the integration of Dresdner Bank, which was taken over by Commerzbank in May of this year, was going smoothly.