10 August 2011 Last updated at 02:07 ET 
The move reflects acceptance among lenders to Greece that they will not receive back the full value of loans.
Commerzbank said it was still expecting full-year profits to beat last year's.
In a statement it said it would make "well above the figure achieved in 2010", of operating profits of 1.39bn euros.
The German government has a 25% stake in Commerzbank, one of the worst exposed to the credit and eurozone crises.
Commerzbank recently paid back 90% of state aid worth 18.2bn euros that it received to survive the financial crisis and complete a takeover of Dresdner Bank, its troubled rival.
Commerzbank profits hit by $1bn Greek debt write-down
Commerzbank's second quarter profits were all but wiped out by Greek debt write-downs
Commerzbank, Germany's second largest bank, has seen its second quarter profits all but wiped out by a 760m euros ($1.1bn; £676m) write-down of its Greek debt.
Second-quarter net profit fell by 93% from the same period a year ago to 24m euros after the debt revaluation.The move reflects acceptance among lenders to Greece that they will not receive back the full value of loans.
Commerzbank said it was still expecting full-year profits to beat last year's.
In a statement it said it would make "well above the figure achieved in 2010", of operating profits of 1.39bn euros.
The German government has a 25% stake in Commerzbank, one of the worst exposed to the credit and eurozone crises.
Commerzbank recently paid back 90% of state aid worth 18.2bn euros that it received to survive the financial crisis and complete a takeover of Dresdner Bank, its troubled rival.
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