FRANKFURT: 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 (US$259.97mil) compares with net profit of 279 million euros a year earlier.
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