Bloomberg News reports that now, after he revamped the bank by selling assets and cutting costs, shareholders are questioning whether the chief executive officer can generate profits that meet expectations in the face of a sluggish economy, tough capital requirements and a European Central Bank review of asset quality.
'Commerzbank has pushed along a turnaround as far as it could itself', said Michael Seufert, an analyst at Norddeutsche Landesbank Girozentrale. Now 'profitability depends on customers losing their euro-crisis fears and interest rates picking up'.
Shares in the company, which more than doubled during the second half of last year, have fallen 19% since April 4.
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