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    Home > Finance > Germany's Commerzbank profit jumps 20% in 2024 as it fends off UniCredit
    Finance

    Germany's Commerzbank profit jumps 20% in 2024 as it fends off UniCredit

    Published by Global Banking & Finance Review®

    Posted on January 31, 2025

    1 min read

    Last updated: January 26, 2026

    The image depicts Commerzbank's logo and financial data showcasing a 20% profit increase in 2024, reflecting the bank's strong performance against competitors like UniCredit.
    Commerzbank's 20% profit increase in 2024 amid competition - Global Banking & Finance Review
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    Tags:corporate profitsfinancial managementinvestment managersBanking technology

    Quick Summary

    Commerzbank's net profit rose 20% in 2024 to 2.68 billion euros, surpassing forecasts. The bank announced a 400 million euro share buyback and increased dividends.

    Commerzbank Reports 20% Profit Surge in 2024 Amidst Competition

    FRANKFURT (Reuters) -Germany's COMMERZBANK-LAYOFFS-a8b75e55-254b-40e8-9290-ad5b828929db>Commerzbank said on Friday that it posted a 20% increase in net profit in 2024, announcing earnings nearly two weeks ahead of schedule as it fends off interest in a tie-up from Italy's UniCredit.

    Net profit rose to 2.68 billion euros ($2.78 billion) in the year, up from 2.22 billion euros in 2023, the bank said. That is above analyst expectations for profit of 2.47 billion euros, according to a consensus forecast.

    COMMERZBANK-LAYOFFS-a8b75e55-254b-40e8-9290-ad5b828929db>Commerzbank said the profit was a record. It also announced a share buyback of 400 million euros and a dividend of 65 cents per share, up from 35 cents a year earlier.

    Germany's No. 2 bank had planned to publish earnings on Feb. 13, when it also plans to detail an update on its strategy.

    "By consistently managing costs and focusing on growth initiatives, we were able to significantly increase the net result for the past financial year," COMMERZBANK-LAYOFFS-a8b75e55-254b-40e8-9290-ad5b828929db>Commerzbank CEO Bettina Orlopp said.

    ($1 = 0.9636 euros)

    (Reporting by Tom Sims; editing by Matthias Williams and Louise Heavens)

    Key Takeaways

    • •Commerzbank's net profit increased by 20% in 2024.
    • •Profit rose to 2.68 billion euros, exceeding expectations.
    • •A share buyback of 400 million euros was announced.
    • •Dividend increased to 65 cents per share.
    • •Commerzbank fends off merger interest from UniCredit.

    Frequently Asked Questions about Germany's Commerzbank profit jumps 20% in 2024 as it fends off UniCredit

    1What was Commerzbank's net profit in 2024?

    Commerzbank reported a net profit of 2.68 billion euros in 2024, which is a 20% increase from 2.22 billion euros in 2023.

    2How did Commerzbank's profit compare to analyst expectations?

    The profit exceeded analyst expectations, which had predicted a profit of 2.47 billion euros.

    3What shareholder returns did Commerzbank announce?

    Commerzbank announced a share buyback of 400 million euros and a dividend of 65 cents per share, up from the previous amount.

    4When was Commerzbank's earnings report scheduled for release?

    Commerzbank had planned to publish its earnings report on February 13, along with an update on its strategy.

    5What strategies contributed to Commerzbank's profit increase?

    The bank attributed its profit increase to consistent cost management and a focus on growth initiatives.

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