Banks Commerzbank sees itself on course 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.
06.11.2024, 08:14
SDA
In the third quarter, which was marked by the entry of Unicredit, Commerzbank earned slightly less than in the previous year. Nevertheless, the DAX-listed group believes it is still on course for a record profit of around 2.4 billion euros for the full year 2024. In the third quarter, the Frankfurt-based bank earned a bottom line of 642 million euros, a good six percent less than in the same period last year.
"We are convinced that we will be able to increase profits again this year," said Group CEO Bettina Orlopp, who was promoted to the top post on October 1. "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 German government's partial exit and acquired a large stake in Commerzbank. Including financial instruments, the Italian bank secured 21 percent of the shares. The major bank also applied for permission to increase its stake to up to 29.9 percent. Unicredit CEO Andrea Orcel has described a takeover of Commerzbank as an option.
