Commerzbank AG (OTCPK:CRZBY) reports a Q1 net loss of €94M, as Germany's second largest...

Commerzbank AG (OTCPK:CRZBY) reports a Q1 net loss of €94M, as Germany's second largest bank takes a €493M restructuring charge related to layoffs. The loss was narrower than analysts expected however and operating expenses fell 3.7% to €1.72B (beating estimates) while risky assets in the firm's bad bank also declined during the period. On the other hand, provisions for bad debt were up 26% and net interest income fell 20% to €1.36B.