Commerzbank swings to Q3 net loss amid pandemic, restructuring

The Business Times | Nov 5, 2020 at 1:00 AM
  • Germany’s Commerzbank on Thursday said that it swung to a third-quarter loss, as the lender undergoes a restructuring and deals with the fallout of the coronavirus outbreak.
  • The net loss of 69 million euros (S$109.8 million) compares with a net profit of 297 million euros a year earlier.
  • The bank, which is waiting for a new chief executive to arrive in January before deciding on a new strategy, has warned that it would post a full-year loss.