Commerzbank expects a slight increase in profit this year, despite the fierce competition that, among other things, reduces margins. This can be read in the annual report of the bank, which conducts discussions about a merger with Deutsche Bank.

In the report, Commerzbank refers to continuing challenging market conditions. The current low interest rates, as well as intensive competition in the sector, continue to put pressure on the bank’s profitability.

Commerzbank boss Martin Zielke has been struggling for some time to regain margins. Last month, the bank abandoned most of its financial goals. Earlier forecasts were, according to Zielke, too optimistic. In the annual report, Commerzbank now also mentions profit and revenue growth, also because it will further reduce costs.

Zielke was good for a reward of almost 2 million euros in 2018. That was about a third less than a year earlier. The Commerzbank board as a whole had to make do with almost a quarter less income.

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