Commerzbank Exceeds Capital Target as Profit Declines
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Commerzbank AG exceeded the capital target set by Europe’s top banking regulator, even as Germany’s second-biggest lender posted lower-than-estimated profit in the first quarter.
Commerzbank surpassed the European Banking Authority’s target of raising 5.3 billion euros ($6.9 billion), the biggest assigned to six German lenders, by 1.1 billion euros at the end of March, the Frankfurt-based company said today in a statement. The bank beat the EBA’s June 30 deadline by reducing risk-weighted assets, retaining profits and selling assets.