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Commerzbank ( (DE:CBK) ) has shared an update.
Commerzbank reported a record net result of €2.68 billion for 2024, marking a 20% increase from the previous year, driven by strong customer business, with revenues rising by 6%. The bank plans to propose a dividend increase to €0.65 per share and has authorized a share buyback of up to €400 million, reflecting a commitment to capital return strategies. The improvements in net commission income and a robust credit portfolio have helped enhance the bank’s financial performance, leading to a 9.2% return on equity. This aligns with Commerzbank’s strategy of managing costs and focusing on growth initiatives, thereby enhancing shareholder value.
More about Commerzbank
Commerzbank is a leading financial institution in Germany, serving as a pivotal partner for the German Mittelstand and boasting a strong presence among corporate client groups. The bank manages assets exceeding €400 billion, catering to private and small-business customers in Germany through its prominent brands, Commerzbank and comdirect. Internationally, Commerzbank is operational in over 40 countries, facilitating approximately 30% of Germany’s foreign trade. Its Polish subsidiary, mBank S.A., is a digital bank serving millions of customers across Poland, the Czech Republic, and Slovakia.
YTD Price Performance: 17.45%
Average Trading Volume: 2,028,242
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €21.76B
Learn more about CBK stock on TipRanks’ Stock Analysis page.
