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Commerzbank posts loss on overhaul, sees full-year profit

Q3 net loss of 288 million euros compares with a profit of 235 million euros a year earlier
Monday, November 7, 2016 - 05:50

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The bank's CEO in September unveiled plans to eliminate 9,600 jobs, suspend dividends and shrink securities trading in the biggest overhaul since the lender's bailout during the global financial crisis.

Washington

COMMERZBANK said it expects to post a full-year profit after costs tied to chief executive officer Martin Elke's overhaul pushed Germany's second-largest lender into a third-quarter loss.

The net loss of 288 million euros (S444 million) compares with a profit of 235

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