June 23, 2017 / 11:42 AM / a month ago

Commerzbank ‍expects loss in Q2 on restructuring costs

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FRANKFURT, June 23 (Reuters) - Commerzbank warned on Friday it would post a second-quarter loss due to higher than expected restructuring costs.

The German bank, which is shedding staff, expects to book restructuring charges of about 810 million euros ($904 million) in the second quarter, it said in a statement.

"Despite the higher restructuring charges, from today's perspective Commerzbank does not expect to report a negative net result for financial year 2017," it said.

$1 = 0.8957 euros Reporting by Tom Sims; Editing by Maria Sheahan

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