Relevant:
- Lenders Discuss Possible Second Debt Relief Measure for Greece
- Commerzbank Desperately Needs Money; Der Spiegel Reports "Germany Considers Nationalization of Commerzbank"; First of Many Nationalizations
- Bank Of America Planning To Cut 16,000 Jobs By Year End
- The Statistical Recovery
- Commerzbank Falls After Chief Warns About Subprime
2013-02-15 — huffingtonpost.com
- The head of Germany's Commerzbank says he's not asking for a bonus after a year of meager profits and no dividend for shareholders.
The bank is cutting costs and plans to drop 4,000 to 6,000 jobs through 2016. CEO Martin Blessing also gave a downbeat outlook for 2013, saying it would be a year of restructuring that would cost "effort, money and time."
He said Friday that revenues, measured before provisioning for loan losses, "will remain under pressure" for this year.
read original article |
permalink to this page |
discuss |
|
RSS |
Subscribe by email! 
Comments: Be the first to add a comment