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Commerzbank Sees Profit as CEO Zielke’s Turnaround Gathers Pace

Commerzbank AG said it may post a profit of about 100 million euros ($116 million) for the full year and plans to complete a disposal of soured shipping loans well before a 2020 deadline set by Chief Executive Officer Zielke last year. The bank is already ahead of target in new client acquisitions, and has booked all charges for some 7,300 job cuts planned over four years.