Commerzbank Takes $520 Million Virus Hit as Provisions Jump
- Risk provisions could rise to 1.4 billion euros this year
- Bank marked down 295 million euros in customer derivatives
This article is for subscribers only.
Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.
Commerzbank AG took a 479 million-euro ($520 million) hit to deal with the fallout from the coronavirus crisis, joining peers in marking down assets and boosting reserves to deal with bad loans.