German bank, Commerzbank AG has released the first quarterly profit statements in public. The statement reveals that its profits have improved to reach 1 billion euro and the provision of bad loans have been decreased.

The net profit released by the bank as compared with the 708 million euro in the first quarter of the last year.

Commerzbank quoted that the loan-loss were lower than the last year, which has helped the bank to get good profit returns at the end of the quarter.

The full quarterly earnings report will be published on Friday.

“The better-than-expected earnings figures should provide a tailwind for the second part of the capital increase. Commerzbank is definitely benefiting from the German economic boom”, said Michael Seufert, an analyst at Norddeutsche Landesbank Girozentrale in Hannover, Germany

The shares of Commerzbank rose by 3.5% to reach 4.45 euro in Frankfurt trading and was at 4.43 euro.

The bank reported that all the reports will be published on May 6 and everyone is expecting a positive result.

The bank also gives loans to small business and medium sized companies which will get a good support and would recover from financial crisis.