Germany's Commerzbank Monday said it swung to a modest profit in the third quarter, helped by the lack of large restructuring-related write-downs of a year earlier, but it said that investment banking revenue and operating profit from its private clients and Eastern European businesses fell.

The bank reiterated its goal to start repaying state aid by 2012 at the latest and earning return on equity after tax of around 12%. It also aims to generate an annual operating profit of €4bn from 2012.