Commerzbank Affirms FY22 Net Result Outlook Despite Revenue Burden At Polish subsidiary

(RTTNews) - Commerzbank (CRZBY.PK) said it still expects a net result of more than 1 billion euros for fiscal 2022 despite an expected revenue burden at its Polish subsidiary mBank. The company noted that this outlook is under the condition that there will be no further significant deterioration in the economic environment and that no material additional provisions for the Swiss Franc loan portfolio at mBank will be necessary.

Commerzbank estimates negative one-off effect of 210 million euros to 290 million euros at mBank in third quarter due to legislation on credit holidays for private mortgages. Operating result of Commerzbank will be impacted by corresponding amount.

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