Commerzbank reports annual loss

Commerzbank could be facing a tough 2010. Germany’s second largest bank reported a quarterly loss of € 1.86 billion, resulting in an annual 2009 loss of € 4.5 billion. The bank said that it would realise profitability if the market for 2010 was a very positive one. The losses are being blamed on write down of further bad debts and weak trading.