Banks
Commerzbank sees itself on track for a record year
A possible takeover by Unicredit has been the dominant topic at Commerzbank in recent weeks. In the fight for its independence, the bank also wants to score points with good figures.
Commerzbank earned slightly less in the third quarter, which was marked by Unicredit’s entry, than a year earlier. Nevertheless, the DAX group is still on track for a record profit of around 2.4 billion euros for the full year 2024. In the third quarter, the Frankfurt institute earned a total of 642 million euros, a good six percent less than in the same period last year.
“We are convinced that we can increase profits again this year,” said CEO Bettina Orlopp, who was promoted to the top position on October 1st. “Customer business developed very well in the third quarter. The growth in net commission income is particularly pleasing.” The bank now expects net interest and commission income for the year as a whole to be higher than before.
At the beginning of September, Unicredit took advantage of the federal government’s partial exit and joined Commerzbank on a large scale. Including financial instruments, the Italian institute secured 21 percent of the shares. The major bank also applied for permission to increase its stake to up to 29.9 percent. Unicredit boss Andrea Orcel has described a takeover of Commerzbank as an option.
Presentation Commerzbank on Strategy 2027 Commerzbank on Strategy 2027 Analyst estimates Interim reports Commerzbank
dpa
Source: Stern
