Commerzbank Revises Full-Year Expectations as Nine-Month Results Outperform

Commerzbank has improved its 2024 outlook following a strong nine-month performance. Revenues rose to €8.2 billion by September's end, driven by robust customer activity. This marks a slight increase from €8.1 billion in the same period last year. Net commission income grew by 4% to €2.7 billion. The bank maintained a stable net interest income of €6.3 billion amidst interest rate cuts. Operations yielded almost stable results at €2.8 billion, and net profit rose by 5% to €1.9 billion.

Commerzbank projects a year-end CET1 ratio of 15%. The bank plans to distribute substantial capital through a third share buyback, initiating with a €600 million tranche. Outlook for 2024 confirms a net income target of €2.4 billion. Strategic initiatives, such as expanding in asset management, continue to advance with promising prospects.