Germany's Commerzbank AG (CBK.XE) said Monday, July 30, it will sell its Ukrainian unit, Bank Forum, for which it will take a charge, and it expects second-quarter pretax profit of around 350 million euros ($429 million).
Commerzbank said Ukraine’s economic development hasn’t maintained the
momentum expected several years ago and isn’t expected to improve
sustainably in the near term. The bank will keep a representative office
in Kyiv.
