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Commerzbank capital position weakens in Q2


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Commerzbank capital position weakens in Q2

Commerzbank AG reported preliminary net profitattributable to shareholders of €209 million in the second quarter, compared to€307 million in the same period a year ago.

The lender said the preliminary resultwas in line with consensus, as was its second-quarter operating profit, whichdeclined year over year to €342 million from €419 million.

The bank's preliminary fully loadedcommon equity Tier 1 ratio under Basel III stood at 11.5% as of June 30, downfrom 12.0% at March-end and up from 10.5% at the end of June 2015. Thequarter-over-quarter decline in the ratio was mainly because of accountingchanges that the bank made to reflect higher risk-weighted assets, particularlyfor operational risks, and higher pension liabilities.

Commerzbank noted that the capitalratio can be volatile in the current market environment. The bank will publishits final second-quarter results Aug. 2.