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Operating profit increased to more than EUR 1 bn in first half of 2015 - Seite 3
million). In the second quarter, the operating expenses were at EUR 1,677
million (Q2 2014: EUR 1,646 million), and in the first half of 2015 at EUR
3,511 million, up from EUR 3,263 million in the first half of 2014. The
increase is due, among other things, to higher expenses for strategic
investments in digitalisation and for regulatory issues.
"In the first half of 2015, we increased the operating profit in the Group
substantially year-on-year to more than EUR 1 billion. This is further
testimony to the successful turnaround achieved by the Bank. We are on the
right course with the strategic positioning. This is also shown in the
return on equity for the first half of 2015, which, despite higher capital
resources, increased considerably over the previous year," said Martin
Blessing, Chairman of the Board of Managing Directors of Commerzbank.
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Revenues increased in all Core Bank segments in first half of 2015
An improved operating profit and higher revenue levels speak for the
successful turnaround of the Private Customers segment. In the first half
of 2015, the operating profit amounted to EUR 332 million. This is 46% more
than in the previous year (first half of 2014: EUR 227 million). An
operating profit of EUR 171 million (Q2 2014: EUR 116 million) was attained
in the second quarter alone. In the first half of 2015 the revenues before
loan loss provisions rose by nearly 6% to EUR 1,829 million (first half of
2014: EUR 1,719 million) despite the ongoing burdens posed by the low
interest rate environment. In particular the mortgage financing business
continued to grow and for the first time ever the volume of new business
exceeded the EUR 3.5 billion level in a quarter. In the second quarter of
2015, the credit business in the branch bank posted significant growth of
approximately 8% over the same period of the previous year. Furthermore,
the positive development in results is supported by further growth of the
segment: 68,000 net new customers chose Commerzbank in the second quarter,
meaning that net new customer growth has totalled 666,000 since the end of
2012. The loan loss provisions - at EUR 34 million - remained at a low
level in the first half of 2015 (first half of 2014: EUR 52 million). The
operating expenses amounted to EUR 1,463 million in the first half of 2015
(first half of 2014: EUR 1,440 million).
Mittelstandsbank increased its operating profit year-on-year in the first
half of 2015 by approximately 5% to EUR 636 million (first half of 2014:
EUR 608 million). Hereof, EUR 294 million were booked in the second quarter
An improved operating profit and higher revenue levels speak for the
successful turnaround of the Private Customers segment. In the first half
of 2015, the operating profit amounted to EUR 332 million. This is 46% more
than in the previous year (first half of 2014: EUR 227 million). An
operating profit of EUR 171 million (Q2 2014: EUR 116 million) was attained
in the second quarter alone. In the first half of 2015 the revenues before
loan loss provisions rose by nearly 6% to EUR 1,829 million (first half of
2014: EUR 1,719 million) despite the ongoing burdens posed by the low
interest rate environment. In particular the mortgage financing business
continued to grow and for the first time ever the volume of new business
exceeded the EUR 3.5 billion level in a quarter. In the second quarter of
2015, the credit business in the branch bank posted significant growth of
approximately 8% over the same period of the previous year. Furthermore,
the positive development in results is supported by further growth of the
segment: 68,000 net new customers chose Commerzbank in the second quarter,
meaning that net new customer growth has totalled 666,000 since the end of
2012. The loan loss provisions - at EUR 34 million - remained at a low
level in the first half of 2015 (first half of 2014: EUR 52 million). The
operating expenses amounted to EUR 1,463 million in the first half of 2015
(first half of 2014: EUR 1,440 million).
Mittelstandsbank increased its operating profit year-on-year in the first
half of 2015 by approximately 5% to EUR 636 million (first half of 2014:
EUR 608 million). Hereof, EUR 294 million were booked in the second quarter
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