November 8, 2012 / 7:02 AM / 5 years ago

Commerzbank sees retail op profit at 500 mln eur in 2016

FRANKFURT, Nov 8 (Reuters) - Commerzbank on Thursday said it expects an operating profit of approximately 500 million euros ($637.75 million) in 2016 and a pretax return on equity of more than 12 percent in the private customers business.

The Frankfurt-based lender said it plans to increase revenues per customer and to raise the number of retail clients to 12 million by 2016, from 11 million at present.

At group level, Commerzbank said risk-weighted assets (RWA) are likely to rise to around 240 billion euros by 2016, from 206 billion euros at the end of September.

The inflated figure is essentially an accounting impact due to a stricter measurement methodology for risky assets as required under Basel III rules. ($1 = 0.7840 euros) (Reporting By Edward Taylor)

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