Intermediate balance sheet
Commerzbank sets a profit goal
Commerzbank has been defending itself against the desires of Unicredit since autumn. The shareholders should keep increasing profits and higher distributions. 2025 is now better than expected.
After a surprisingly good second quarter, the Commerzbank screwed its winning target for 2025. The board now expects a net result of around 2.5 billion euros and thus 100 million euros more than previously expected. This was announced by the DAX group in Frankfurt.
In the second quarter, Commerzbank earned a good 14 percent less than a year earlier at 462 million euros. However, the reason for the decline is one -off costs for the dismantling of thousands of almost half a billion euros, which the bank posted by the end of June. Analysts had therefore expected a stronger decline in profits because of the sunken interest.
Desires of the UniCredit
The Frankfurt Money House has been in the defensive fight against the Italian Unicredit since September. With a good 20 percent, the large bank is now the largest shareholder in Commerzbank and has access to another almost 10 percent.
Unicredit boss Andrea Orcel would like to incorporate Commerzbank, but the leadership of Germany’s second largest listed money house and the works council resist – supported by the Federal Government – against the desires from Milan.
Commerzbank boss Bettina Orlopp had set up the return goals for the coming years and attracts the shareholders with higher distributions – also to dissuade them from any sale of their shares to the UniCredit.
dpa
Source: Stern
