Frankfurt, Germany - floating banking conditions in the German economy to grow rapidly and best results in Eastern Europe helped Commerzbank increased profits in the first quarter, the Bank said Friday.
Its bank working with small businesses and medium-sized enterprises in Germany - a pillar of the economy - saw operating earnings rise to euro415 million euro314 million ($601 million) per year. Bank no. 2 of the Germany also stated his company in the Europe of profits was to euro78 million from euro6 million per year.
Commerzbank share rose 0.4% to euro4.20 trade German time in the morning.
The Frankfurt-based Bank holds its shareholders meeting Friday, where she will be ask for the approval of the plans to raise to euro8.25 billions of dollars through new shares to pay off a large part of the State aid received during the financial crisis.
Last month, the Bank announced its intention to repay euro14.3 billions of dollars in aid of the German Government in June in part by the issuance of new shares, saying the goal is to return most of the money he received to the financial crisis.
However, once he said that the State of "silent participation", or holding without voting rights, is reimbursed, Bank government relief fund will always be with a 25 per cent regular participation in Commerzbank.
Commerzbank has published base Monday salary figures.
Net profit was up to the first quarter to euro985 million that it reduce the number of loans bad and strengthened its financial cushion against investment losses. The profit figure represents a 39% on euro708 improvement year last million.
Gross revenues were similar to euro3.6 billion.
The Bank says it reduced bad loans more in half and reduce risky investments. She declined the weighted assets - securities and other values investment against which capital reserves to be held against losses, adjusted their level of risk - euro19 billion to euro248 billion.
His ratio of capital of level 1 core, a key measure of financial strength, was about 11%. It was an improvement of 10% at the end of last year.
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