* Reports key Q3 figures ahead of schedule
* Q3 net loss 1.05 bln euros vs forecast 696 mln euro loss
* Still sees 2009 net loss
* Shares close 1.3 percent higher
(Adds detail, background, analyst quote)
By Edward Taylor
FRANKFURT, Nov 2 (Reuters) - Commerzbank AG reported a bigger than expected 1.05 billion euro ($1.6 billion) third-quarter net loss, as Germany's second largest bank struggles to restructure in the wake of the credit crunch.
The Frankfurt-based lender said on Monday the result reflected about 650 million euros in writedowns, largely due to the restructuring of its Eurohypo real estate financing unit, and 900 million euros in charges for absorbing rival Dresdner Bank.
Unlike rival Deutsche Bank AG, which benefited from its much larger investment banking arm during the quarter, Commerzbank faces losses for the rest of the year as it seeks to repay parts of a bailout and reshape its business.
As part of a broader restructuring, Commerzbank is slimming down Eurohypo before selling the unit.
It was forced to agree a sale of the real estate lender by 2013 as a condition for having about 18 billion euros in bailout money approved by the European Commission.
The bank released key figures ahead of the scheduled Nov. 5 publication date but didn't provide detailed figures. Analysts polled by Reuters had on average expected Commerzbank to post a net loss of 696 million euros.
"We expected Commerzbank to post an operating profit. But it's difficult to make statements about the quality of those earnings as we have no details on, for instance, the loan provisions," said Thomas Stoegner, an analyst with Oppenheim Research.
Impairment gains on toxic assets at its portfolio restructuring unit helped Commerzbank post an operating profit of 120 million euros for the third quarter, better than the 94 million operating loss expected by analysts.
Commerzbank declined to specify the level of impairment gains during the quarter or describe in detail where these impairment gains would be booked.
For 2009, Commerzbank continues to expect a net loss, the bank said.
Commerzbank completed the acquisition of rival Dresdner Bank in January at the height of the fallout from the collapse of U.S. investment bank Lehman Brothers.
Shares of Commerzbank closed 1.3 percent higher, at 7.190 euros, while Germany's blue-chip index was up 0.3 percent. (Additional reporting by Chris Steitz; Editing by David Holmes) ($1=.6769 Euro)