Commerzbank Posts Upbeat Q3 Profit
Commerzbank AG (OTC: CRZBY) reported a better-than-expected third-quarter net profit.
Commerzbank's quarterly net profit surged 15% to EUR77 million, versus a year-ago profit of EUR67 million. However, analysts were expecting a profit of EUR17 million.
Its net interest income increased 16% to EUR1.48 billion from EUR1.28 billion, while operating costs declined to EUR1.69 billion from EUR1.73 billion.
Commerzbank shares fell 0.24% to close at $12.54 yesterday.
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