German lender Commerzbank has reported an attributable net profit of EUR187m for the fourth quarter of 2015, compared to a loss of EUR280m in the year ago quarter.
The bank’s operating profit for the period stood at EUR376m, compared to a loss of EUR260m in the fourth quarter of 2014.
The bank’s quarterly net interest and trading income dropped 10.6% year-on-year to EUR1.28bn. While loan loss provisions decreased to EUR112m from EUR308 a year ago.
The bank posted operating expenses of EUR1.74bn, a decline of 3.1% from EUR1.80bn in the fourth quarter of 2014.
The private customers segment of the bank almost doubled its operating profit to EUR160m in the fourth quarter of 2015 from EUR81m a year ago. Revenues before loan loss provisions increased 6.1% to EUR894m from EUR842m in the prior year.
Commerzbank CFO Stephan Engels said: "In 2015 we have further reduced the risks and significantly increased the stability of Commerzbank. Our regulatory capital base has increased by approximately EUR 3.8 billion or nearly 20%. Our Common Equity Tier 1 ratio is now 12.0%."
