Commerzbank (CRZBY.PK) announced that the Bank expects a net loss for the first quarter of 2013. The Bank started solidly in the first three months of 2013 in operational terms, but the first-quarter will be affected by one-off effects due to the planned job cuts, Commerzbank said. Restructuring expenses of almost 500 million euros were booked.
Commerzbank said, through to 2016, it is investing more than 2 billion euros in its core business. The Bank has set the goal of generating a post-tax return on equity after taxes of more than 10 per cent in the Core Bank by the year 2016. In the same period, Commerzbank intends to reduce cost-income ratio in the Core Bank to around 60 percent.
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