Source: www.reuters.com
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FRANKFURT (Reuters) - Germany’s Commerzbank said on Thursday it swung to a far better-than-expected fourth-quarter and 2021 net profit despite undergoing a major overhaul thanks to an uptick in its customer business.
Commerzbank said its net profit came in at 421 million euros ($478.05 million) in the fourth quarter, compared with the loss of 2.7 billion euros ir reported for the same period a year earlier due to restructuring charges.
Analysts had on average expected a profit of 81 million euros, according to a consensus forecast published by Commerzbank.
($1 = 0.8807 euros)
Reporting by Tom Sims and Frank Siebelt; Editing by Zuzanna Szymanska
