November 8, 2012 / 9:18 AM / 5 years ago

Commerzbank does not expect profit in retail business in 2013

FRANKFURT, Nov 8 (Reuters) - Commerzbank does not expect to post a profit in its struggling retail business operations in 2013, but does not plan to close any of its 1,200 branches in its domestic German market as part of a general overhaul of the unit, it said on Thursday.

Germany’s second biggest lender added that it is targeting a cost-income ratio in its retail unit of less than 80 percent by 2016 at the latest, after reaching 88 percent in the first nine months of 2012. (Reporting by Arno Schuetze)

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