Top Bank’s Profits Wiped Out By Greek Debt

Commerzbank has seen its second quarter profits destroyed by a 760m euros (£676m) write-down of its Greek debt. According to a City AM report net profit fell by 93 per cent at Germany's second largest bank from the same period a year ago to 24m euros.

Earlier this month the UK's RBS also wrote down around $1bn of Greek loans, as they gave up hope of being paid back.

Read more at http://www.cityam.com/news-and-analysis/commerzbank-profits-wiped-out-greek-debt