Commerzbank Q3 net profit more than triples, beats expectations

Germany's Commerzbank said on Wednesday that net profit more than tripled in the third quarter, better than expected and helped by higher interest rates. Analysts had on average expected profit of 611 million euros, according to a consensus forecast published by Commerzbank. Commerzbank, one of Germany's best known banks and partially held by the government after a bailout more than a decade ago, spent much of the past three years in a major overhaul, slashing its workforce and branch network to restore profits.