Commerzbank: Preliminary operating profit for the third quarter 2019 at EUR 448 million and above consensus of EUR 353 millionSource: EQS
On the basis of preliminary figures, Commerzbank posted an operating profit of
The higher than expected operating profit is based on higher revenues, reduced costs and a lower risk result than in Q3 2018, which are all better than consensus.
- Revenues increased by 2.0% to
- Exceptional items contributed net with
- Revenue increase excluding exceptional items benefitted in particular from a 2.7% increase in net interest income reflecting further growth in customers and assets.
- Operating expenses and compulsory contributions decreased by 2.5% to
- The net decrease in costs is based on prioritized and more efficient investments as well as further cost management, compensating higher compulsory contributions and general cost inflation.
- The risk result stood at
- In the segments, the operating profit of PSBC stood at
- Corporate Clients reported an operating profit of
Figures shown in this release are preliminary. Commerzbank will publish its final figures for the third quarter 2019 on
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