German lender Commerzbank has posted an operating profit of EUR385m for the second quarter of 2015, up 49.8% compared to EUR257m in the year ago quarter.
The bank’s loan loss provisions stood at EUR280m for the quarter, an 8.94% rise from EUR257m a year ago.
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Revenues before loan loss provisions increased 7.89% to EUR2.42bn from EUR2.24bn a year ago. Operating expenses rose by 1.5% to EUR1.75bn from EUR1.73 in the prior year quarter.
The private customers segment of the bank bolstered its operating profit to EUR171m in the second quarter of 2015, a jump of 47.4% from EUR116m in the corresponding quarter of 2014.
Commerzbank CFO Stephan Engels said: "The framework conditions for the banking sector are difficult and will remain so in the foreseeable future. For this reason we continue to consistently pursue our objective of becoming leaner, more efficient and more customer-centric."
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