Commerzbank expects net loss for 2020 after second-quarter profit decline

Topics Q2 results | Germany


FRANKFURT (Reuters) - Commerzbank is set to post a loss for 2020, as a big writedown on loans to collapsed firm Wirecard adds to the problems facing Germany's second-biggest lender, including the fallout from the COVID-19 crisis and a leadership vacuum. The grimmer outlook for the year follows a 21% decline in net profit in the second quarter.

Net profit in the April-June period of 220 million euros ($259.97 million) compares with net profit of 279 million euros a year earlier. "The effects of the coronavirus pandemic and.....

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