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Commerzbank expects loans loss provisions to rise in 2013
February 15, 2013 / 6:16 AM / 5 years ago

Commerzbank expects loans loss provisions to rise in 2013

FRANKFURT, Feb 15 (Reuters) - Commerzbank expects its provisions for bad loans to rise slightly this year as the economy weakens.

“In 2012 we fulfilled the prerequisites for the realignment of the Bank. Initial measures are taking effect, but one thing is clear, there is a long way to go,” Chief Executive Martin Blessing said on Friday.

Germany’s second-biggest bank also said its fully phased-in Basel III core tier 1 capital ratio stood at 7.6 percent as of the end of December, below a 9 percent target set for 2019. (Reporting by Arno Schuetze)

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