Germany's Commerzbank posts 4Q euro316 million profit February 23, 2012 - 11:19 AMT PanARMENIAN.Net - Germany's Commerzbank is showing a fourth-quarter profit of euro316 million ($418 million) after the bank cut costs and had fewer bad loans. The result improves on profit of euro257 million in the same quarter a year ago. And it's far better than the euro687 million loss recorded in the third quarter when the company had large writeoffs for Greek government bonds. The Frankfurt-based bank reduced its operating costs to euro1.77 billion from euro2.16 billion a year earlier. Bad loans fell to euro381 million from euro595 million, The Associated Press reported.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
