March 20, 2020 / 12:28 PM / in 8 days

Commerzbank says 2020 consolidated profit may be significantly lower

FILE PHOTO: A sign for an ATM of Commerzbank is seen next to the headquarters of Deutsche Bank (R) in Frankfurt, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - Commerzbank (DBKGn.DE) said on Friday that consolidated profit in 2020 may be significantly lower than in 2019, depending on the amount of restructuring expenses it books.

The bank said in its annual report its outlook does not yet account for the possible effects of the coronavirus, the economic impact of which it said was “as yet unforeseeable”.

Reporting by Tom Sims; editing by Thomas Seythal

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