Commerzbank cuts loan charges in wake of IFRS 9
German lender posts “risk result” – costs associated with changes to loan-loss provisions and remeasurement of assets – of €77 million in March
A flurry of accounting changes saw Commerzbank cut charges against its loan portfolios by €174 million ($207 million) in the first quarter.
The German lender posted a “risk result” – costs associated with changes to loan-loss provisions and the remeasurement of assets – of €77 million in March. Loan-loss provisions in December 2017 totalled €251 million. Changes ushered in by new IFRS 9
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