Commerzbank Posts Upbeat Q3 Profit

Commerzbank AG CRZBY reported a better-than-expected third-quarter net profit. Commerzbank's quarterly net profit surged 15% to EUR77 million, versus a year-ago profit of EUR67 million. However, analysts were expecting a profit of EUR17 million. Its net interest income increased 16% to EUR1.48 billion from EUR1.28 billion, while operating costs declined to EUR1.69 billion from EUR1.73 billion. Commerzbank shares fell 0.24% to close at $12.54 yesterday.