Commerzbank has warned of a fall in profit and a potential rise in shipping loan loss provisions.
The German lender said today that its full-year profit would fail to reach the EUR 1.06bn ($1.2bn) seen in 2015.
Its guidance came as Commerzbank reported a first half profit of EUR 372m, short of the EUR 645m at the same stage last year.
Loan loss provisions fell from EUR 438m to what the bank called a very low EUR 335m year-on-year.
However, it said provisions on its EUR 5bn shipping book were still at a high level and were likely to increase modestly due to the continuously challenging shipping markets.
Shares in the bank fell following the profit warning, despite assurances from management that it would reach its 2019 capital requirements without the need to raise fresh capital.
