FRANKFURT Nov 8 Germany's second biggest
lender, Commerzbank, missed analyst expectations with
its third-quarter net profit citing a difficult market
environment and negative valuation effects on non-core
Net profit on group level came in at 78 million euros ($99
million), up from a net loss of 687 mln a year earlier, but
clearly lagging analysts' forecasts of 131 million.
Commerzbank late on Wednesday said it would spend more than
2 billion euros on its core business with about half of the
investment earmarked for its retail business, adding the core
bank is targeting a return on equity after taxes (ROE) of more
than 10 percent until 2016.
($1 = 0.7840 euros)
(Reporting by Arno Schuetze)