Commerzbank beats expectations after CEO says to step down

November 2, 2015 6:14 AM

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FRANKFURT Nov 2 Commerzbank on Monday beat analysts' expectations for pretax profit in the third quarter as provisions for bad loans decreased, a day after Chief Executive Martin Blessing said he will leave the bank after his contract expires next year.

Commerzbank said it posted a pretax profit of 401 million euros ($442 million) in the July to September period, compared with 349 million expected by analysts polled by Reuters.

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