trending Market Intelligence /marketintelligence/en/news-insights/trending/x21unzdYYSLcV4UZAbcS7A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Commerzbank details exceptional revenues stemming from dissolution of JV

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Commerzbank details exceptional revenues stemming from dissolution of JV

Commerzbank AG said the transfer of a loan portfolio following the termination of a joint venture led to net exceptional revenues of €132 million for the second half of 2017.

The German bank agreed to dissolve its Munich-based joint venture with BNP Paribas Personal Finance SA: Commerz Finanz GmbH.

A loan portfolio with a volume of about €3.5 billion was transferred from Commerz Finanz GmbH to Commerzbank. In terms of the financial effects of the transaction, exceptional revenues for the third quarter amount to gross €176 million and stem mainly from the difference between the IFRS book value and the fair value of the joint venture stake.

Taking into account amortizations, net exceptional revenues amounted to €132 million for the second half.