UK markets close in 14 minutes
  • FTSE 100

    6,890.44
    -25.31 (-0.37%)
     
  • FTSE 250

    22,114.72
    -136.54 (-0.61%)
     
  • AIM

    1,232.19
    -4.31 (-0.35%)
     
  • GBP/EUR

    1.1534
    +0.0024 (+0.21%)
     
  • GBP/USD

    1.3740
    +0.0034 (+0.25%)
     
  • BTC-GBP

    43,564.45
    +125.10 (+0.29%)
     
  • CMC Crypto 200

    1,274.87
    -19.71 (-1.52%)
     
  • S&P 500

    4,120.33
    -8.47 (-0.21%)
     
  • DOW

    33,714.33
    -86.27 (-0.26%)
     
  • CRUDE OIL

    60.14
    +0.82 (+1.38%)
     
  • GOLD FUTURES

    1,734.80
    -10.00 (-0.57%)
     
  • NIKKEI 225

    29,538.73
    -229.33 (-0.77%)
     
  • HANG SENG

    28,453.28
    -245.52 (-0.86%)
     
  • DAX

    15,243.01
    +8.85 (+0.06%)
     
  • CAC 40

    6,174.72
    +5.31 (+0.09%)
     

Commerzbank expects net loss in 2021

·1-min read
FILE PHOTO: A Commerzbank logo is pictured in Frankfurt, Germany

FRANKFURT (Reuters) - Commerzbank expects a net loss for 2021, the lender said in its annual report on Wednesday, as Germany's No. 2 lender undergoes a radical overhaul.

But the loss will be "significantly lower" than the 5.7 billion euro ($6.73 billion) loss reported for 2020.

The bank also said it will pay its former Chief Executive Martin Zielke 3.3 million euros for 2021 as part of his termination agreement.

Zielke left the bank last year in a management reshuffle.

The details of the package come as the bank negotiates the exit of thousands of employees and closes branches.

(This story corrects attribution in second paragraph.)

(Reporting by Tom Sims; Editing by Riham Alkousaa and Maria Sheahan)