Commerzbank expects a challenging environment
Times of uncertainty: Commerzbank
11 April 2012
Commerzbank's second quarter profits were all but eliminated by 760 million euros in impairments on its holdings of Greek sovereign debt.
Previously, the lender said it expected the bank as a whole to significantly exceed its 2010 operating profit of 1.386 billion euros in 2011.
"We are expecting a challenging environment characterized by a high degree of market uncertainty in the second half of this financial year," the bank said in its quarterly report.
