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Commerzbank Takes Additional $2.6 Billion Hit From Pandemic
Bloomberg
1/8/2021
Nicholas Comfort
© Bloomberg
Customers form a social distancing queue to enter a Commerzbank AG bank branch in Berlin, Germany, on Monday, Dec. 14, 2020. Germany will start a hard lockdown on Wednesday as officials conceded that the coronavirus has spiraled out of control and previous attempts to contain the pandemic were inadequate.
(Bloomberg) Commerzbank AG will take an additional 2.1 billion-euro ($2.6 billion) hit in the fourth quarter as the pandemic weighs on interest rates and drives up bad loans, pushing the lender deeper into the red as it readies a new turnaround plan.
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