Commerzbank Gains Q4 2024

The second largest lender in Germany Trade On Thursday he announced that he will eliminate 3,900 full -time positions for 2028, largely in his native Germany, since he presented a series of new strategic objectives.

Employment cuts will be accompanied by increases in staffing in “selected areas” as in international locations, resulting in a widely constant global staff of 36,700, the bank said in its strategic update.

The lender anticipates around 700 million euros ($ 730.7 million) of restructuring costs before taxes in 2025, pointing to a net result of 2,400 million euros after these charges per year. It plans a more than 100% payment ratio during the 2025-2028 period, after the deduction of restructuring costs and the additional level 1 bond coupons (to 1).

Income in 2024 reached 11.1 billion euros, compared to 10,461 billion euros in 2023.

Commerzbank had revealed its annual “registration” performance Two weeks before the programmed liberation of its financial results, in an attempt to fall with the German legal requirements when the capital yield of a company significantly exceeds the expectations of capital markets.

At that time, he said that net profits increased by 20% to a forecast that supports 2.68 billion euros ($ 2.78 billion) in 2024, describing plans to repurry 400 million euros of shares and increase their payment of dividends to 0.65 euros per share, compared to 0.35 euros per share in the previous year.

Commerzbank has been advocating for its case so that it is only from the surprise construction of a participation last year of a participation of Unicredit The feeding market talk that the second largest lender in Italy could be looking for a cross -border acquisition. Unicredit currently has a direct participation of 9.5% and a 18.5% participation through derivatives in Commerzbank.

The German government has opposed the possibility of such a cross -border consolidation, with Finance Minister Jörg Kukies criticizing Unicredit’s “very aggressive, very opaque“Offer in a CNBC interview in January.

Divided between the German overture and an acquisition offer for the Italian lender BPM BankThe Unidredit CEO, Andrea Orcel, has maintained its cards near the chest on the final intentions of its company with respect to Commerzbank.

Talking to CNBC this week later Unicredit reported a fourth quarter profit rhythm And he guided a deceleration in the income of 2025, ORCEL emphasized that Commerzbank remains an investment, but also that it is “quite optimistic to convince everyone, not only in the facilities of how we reach this investment, but also a combination between the Two banks have a massive value that is created, not only for the two banks and interested parties, but also for Germany and for Europe. “

This last -minute news is being updated.