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Commerzbank cautious

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Commerzbank cautious

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Commerzbank reported further net losses of 746 million euros in the second-quarter but its operating results beat analysts’ forecasts.

However Germany’s second-biggest bank remains cautious and repeated that it expects to make a loss for the full year despite a good start in the third quarter. It will also set aside 3.6 billion euros to cover bad loans. Unlike some rivals Commerzbank’s investment banking unit made an operating loss.