Commerzbank Q3 net profit down 6% but better than expected
FRANKFURT, Nov 6 (Reuters) -Germany's Commerzbank CBKG.DE, fending off a possible takeover by Italy's UniCredit, said on Wednesday that net profit fell 6.2% in the third quarter, figures that were better than analysts expected but were dragged down by a decline in interest income and a rise in risk provisions.
Net profit of 642 million euros ($690.28 million) in the quarter compares with a profit of 684 million euros a year earlier. Analysts had on average expected profit of 529 million euros, according to an October consensus forecast published by Commerzbank.
($1 = 0.9301 euros)
Reporting by Tom Sims and Oliver Hirt, Editing by Rachel More
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