Pre-tax profit of Commerzbank decreased by 12% for the first quarter

The profit of German creditor Commerzbank before taxes in the first quarter fell by 12% to 289 million euros due to weak markets and increase in bank expenses, although Commerzbank's efforts are aimed at restructuring. Analysts had expected the indicator at the level of 276 million euros. Revenues amounted to 2 billion 300 million euros, it's 3.7% dowm amid competition in Germany and weak demand for capital markets products, despite the increase in the bank's customer base. The growth of the bank's net profit by 9.2% to 250 million euros was facilitated by the positive impact of tax cuts.

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