The Irish Times - Friday, November 6, 2009

Negative outlook by Commerzbank

In this section »

Summit hears call for global regulation
Financier fights NIB bid for €6.3m judgment
FG makes its pitch to business community
Anglo board yet to decide on frozen bonuses
Starbucks closes five Dublin outlets
Lenihan not ruling out bringing more lower earners into tax net

Commerzbank, Germany’s second-biggest lender, predicted a difficult fourth quarter as the bank expects it will need to set aside more money for bad loans.

Commerzbank reported a third-quarter net loss of € 1.05 billion this week on costs tied to the integration of Dresdner Bank and writedowns stemming from its Eurohypo unit.

“We expect risk provisions to rise again in the fourth quarter,” its website said yesterday. –(Bloomberg)