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 accounting standards were cited as contributing to the improvement.
The corporate clients segment witnessed