Commerzbank cuts loan charges in wake of IFRS 9

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

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