Commerzbank’s Plan Achievable, Ambitious: CEO Orlopp

Commerzbank AG Chief Executive Officer Bettina Orlopp discusses the bank’s performance as the German lender announced it predicts profits to decline to €2.4 billion ($2.5 billion) as it will spend about €700 million to carry out cost cuts. Speaking on Bloomberg Television, Orlopp also discusses a plan to increase return on tangible equity to 15% by 2028, saying it is “achievable, but also ambitious on the other side.”