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A “mild recession” is in the letters, according to the CEO of Commerzbank, Manfred Knof.
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Trade On Friday, quarterly results unexpectedly launched, promoting annual “registration” profits and announcing a new scheme of repurchase of shares.
The bank said that it achieved a 20% increase in net profit to 2.68 billion euros ($ 2.78 billion) in 2024. This compares with a net earning forecast of $ 2.47 billion for the period, according to an estimate of consensus cited by Reuters.
The group presented intentions to repurchase 400 million euros of shares and proposed to raise their dividend payment to 0.65 euros per share, compared to 0.35 euros per share in the previous year.
The actions in the lender increased 2.3% to 1:30 PM in London, after launch.
The group had originally listed plans to publish their annual profits of the fourth quarter on February 13, when it also intends to deliver their annual press conference. Early liberation falls regarding German legal requirements when the amount of capital yield significantly exceeds the expectations of capital markets.
The results occur when Commerzbank has been making a case to be alone, after a surprise betting of the second largest lender in Italy Unicredit Market speculation of interest of interest in a possible link. Unicredit now has a direct participation of 9.5% and a 18.5% participation through derivatives in Commerzbank, after building its participation in September, and then increased its position.
This last -minute news is being updated.
