The chief executive, Martin Blessing, is foregoing his bonus claims - a decision which the company's chairman described as "honourable".

BBC: Commerzbank to cut bonuses as profit 'unsatisfactory'

The head of Germany's second-largest bank, Commerzbank, Martin Blessing says Greece should declare itself insolvent and then restructure its debt.

BBC: Deadlock in the eurozone

"Although at the start of the year our customers felt somewhat less uncertain generally, as did capital market participants, it is still too soon to speak of an underlying trend reversal, " chairman Martin Blessing said in a statement.

BBC: Commerzbank pushed into loss by cost of job cuts

Martin stood before the crowd next, opening his address with an Islamic blessing.

CNN: Behind the Scenes: Apology for a desecration