Commerzbank Reports 93% Decline In Q2 Net Profit

Commerzbank AG CRZBY reported a 93% drop in its Q2 net profit. Commerzbank's net profit declined to €24 million, from €352 million, in the year-earlier period. Its net interest income dropped to €1.79 billion from €1.85 billion. However, analysts were expecting a profit of €53 million. Commerzbank shares surged 8% to close at $3.24 yesterday.