Commerzbank Announces Best Half-Year Results in 15 Years

Commerzbank AG reported its strongest half-year performance in 15 years, driven by robust customer engagement. The bank's operating result rose by 11% to €2 billion in the first half of 2024. Revenues for Q2 improved to €2.7 billion, largely due to strong returns from customer business. Half-year net profit increased by 12% to €1.3 billion.

Cost management played a critical role, with expenses reduced by 2% to €3.2 billion, improving the cost-income ratio to 59%. Commerzbank’s acquisition of Aquila Capital boosted sustainable asset management services. Digitalization efforts also improved customer satisfaction and operational efficiency.

CEO Manfred Knof noted that the diversified, customer-driven model has been essential in maintaining positive earnings despite external burdens in Poland and Russia. CFO Bettina Orlopp confirmed plans for a third share buyback with an initial tranche of €600 million.

Commerzbank’s targets for 2024 remain firm, projecting further net profit growth and maintaining a CET1 ratio above 14%. The bank aims to return at least 70% of its profit to shareholders.