May 8, 2019 / 5:14 AM / 7 months ago

Commerzbank Q1 net profit falls on higher tax burden

FRANKFURT, May 8 (Reuters) - Germany’s Commerzbank on Wednesday posted a 54 percent drop in net profit in the first quarter, just weeks after merger talks with rival Deutsche Bank fell apart. It attributed the decline to a higher tax burden.

Net profit of 120 million euros ($134.44 million) was slightly above the 115 million euros expected by analysts in a Reuters poll. It fell from 262 million euros a year earlier. ($1 = 0.8926 euros) (Reporting by Tom Sims Editing by Tassilo Hummel)

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