For the year ended 31 December 2011, the bank’s net profit stood at €638m, much less than half the €1.4bn of the previous year.
Its annual operating profit declined to €507m, versus €1.4bn in 2010.
Commerzbank board of managing directors chairman Martin Blessing said that the year had been characterised by a strong first six months and then more difficult market conditions in the latter half of the year.
The revenues before loan loss provisions of the Core Bank increased by 14 % to €12.4bn compared to €10.9bn over-year-over, due to the stable economic situation in the core markets Germany and Poland, said the bank.
Core Bank segment of Commerzbank yield good profit for the bank as it posted €4.5bn operating profit in 2011, while its Private Customers segment operating profit year-on-year was €375m versus €47m in 2010.
