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Commerzbank Predicts Third Straight Year of Declining Revenue

Commerzbank AG predicted a third straight year of contraction for 2018 as low interest rates and increasing competition weigh on the retail and corporate lending businesses that Chief Executive Officer Martin Zielke has earmarked for growth.

Revenue will be “slightly” below 2017 levels, reflecting lower exceptional items, Germany’s second-largest publicly traded lender said in its annual report Monday. While adjusted revenue will probably increase in its two main divisions, it won’t be enough to offset that impact as the banking environment remains “challenging.”