Commerzbank on the rise

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Commerzbank's third-quarter net profit tripled to 225 million euros as earnings in its retail and corporate banking units rose and costs for bad loans fell, in a sign that the bank's turnaround plan was gaining traction.

Reuters reports that Germany's second-biggest lender beat analysts' expectations, which had estimated a net profit of 192 million euros (150.35 million pounds).

The bank, which many analysts had expected to fail a European bank stress test carried out by the ECB, said on Thursday that its capital ratio calculated in the most stringent form of new bank rules reached 9.6 percent at the end of September, comfortably exceeding the 7 percent minimum required by 2019.

In investment banking, trading revenues improved and operating earnings almost doubled, benefiting from high volatility in interest rates and currency markets which drove client demand.

Hit the link below to access the complete Reuters article:

Commerzbank net profit triples as revenue grows, bad loans fall

Commerzbank sees growth trend intact in core business

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