German lender Commerzbank has seen loan losses fall in the first quarter as it continued to run down legacy portfolios.
The bank said provisions to 31 March dropped EUR 10m to EUR 148m ($170.6m).
In the newly established legacy loans division, called asset and capital recovery (ACR), the figure was EUR 70m, down from EUR 109m, as it shed EUR 600m of shipping loans despite “difficult” conditions.
It
