shares in commerzbank ag dropped on wednesday after it reported heavy thirdquarter losses on its polish business and signaled a challenging market environment at 0950 gmt shares were down 64 to eur772 net profit at germanys secondlargest lender fell 52 on year to 195 million euros 1965 million although it was above consensus of eur116 million according to analysts estimates provided by the company revenue trailed last years figure by 59 to eur189 billion issues at the companys polish business mbank hit by previously reported provisions relating to swiss franc loans caused eur477 million in charges while commerzbank also put aside eur270 million in the quarter related to a mortgage holiday in the country overall mbank booked an operating loss of eur528 million in the quarter adjusted profit before provisions came in 2 below consensus rbc capital markets analyst anke reingen said in a research note the mdaxlisted company slightly improved its guidance for 2024 which forms part of its restructuring initiatives to cut employee numbers and branches the bank said 2024 operating profit would be eur32 billion rather than eur30 billion previously though that figure still falls behind consensus of eur34 billion and it includes conservative rate assumptions analysts at citi said in a research note the restructuring has made commerzbank more resilient in a difficult environment chief executive manfred knof said commerzbank largely reiterated its 2022 guidance despite the betterthanexpected net profit targeting more than eur1 billion in net profit net interest income at more than eur6 billion but net commission income slightly below 2021