News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Commerzbank Securities plunges deeper into the red

Cost/income ratio up a fifth to 121%

Commerzbank Securities, the investment banking arm of the German bank, plunged deeper into the red last year.

Pre-tax losses jumped eight-fold from €32m ($41m) to €279m in the year to December 31 after the bank took a €132m charge in the third quarter to restructure its investment banking business. The division was the only loss-making unit of the German bank's main businesses in 2004.

WSJ Logo