Commerzbank Falls Most Since 2013 as Interest Rates Hit Revenue
- Margins squeezed at consumer and corporate lending businesses
- Finance chief Engels says environment is `very difficult'
Commerzbank CFO: No Need for 'Emergency' Actions
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Commerzbank AG fell the most in more than three years after first-quarter profit slumped amid record-low interest rates, which squeezed margins and revenue at the consumer and corporate lending businesses.
Net income dropped by more than 50 percent to 163 million euros ($188 million), the Frankfurt-based company said in a statement on Tuesday. Revenue before loan-loss provisions declined to 2.3 billion euros from 2.8 billion euros.