FRANKFURT, Aug. 2 (Xinhua) -- Germany's second-largest commercial bank Commerzbank issued the net profit for first half of 2017 at minus 406 million euros (481 million U.S. dollars), compared with 348 million euros in the same period last year, according to the result released Wednesday.
The net loss was mainly attributed to the restructuring charges, but a slightly positive result for the whole year still can be expected.
Specifically, the full restructuring charges of 807 million euros booked were originally expected to be around 1,100 million euros for 2017 and 2018.
"Despite increased investments in digitalization, we are able to reduce our costs year-on-year," said the Chief Financial Officer of Commerzbank Stephan Engels.
Compared with its European peers, the bank's non-performing loan rate is only 1.5 percent, reflecting its healthy risk profile.
"In our two transformational years 2017 and 2018, we are thereby laying the foundations for a sustainable higher profitability", said Martin Zielke, Chairman of the Board of Managing Director of Commerzbank.
Besides, the bank will further strengthen the market position, focusing on the implementation of the "Commerzbank 4.0" strategy, where focused growth, digitalisation and efficiency are at the heart of the new strategy.
