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Commerzbank ( (DE:CBK) ) has provided an update.
Commerzbank has reported a record profit for 2024, exceeding its targets with a 20% increase in net results to €2.7 billion and a 12% rise in operating results to €3.8 billion. Driven by strong customer business and improved cost-income ratio, the bank’s revenues grew by 6% to €11.1 billion. The bank plans to leverage its strong 2024 performance to accelerate growth and transformation, targeting a 15% return on tangible equity by 2028, with strategic expansions in asset and wealth management and increased digitalization. Commerzbank aims for continued revenue growth and higher payout ratios, while focusing on cost efficiency through international shoring and AI.
More about Commerzbank
Commerzbank Aktiengesellschaft is a major German bank operating in the financial services industry. It offers a range of services including asset and wealth management, corporate banking, and private and small-business banking. The bank is focused on expanding its business within these areas while enhancing client penetration and capital efficiency.
YTD Price Performance: 20.36%
Average Trading Volume: 1,883,451
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €22.2B
For an in-depth examination of CBK stock, go to TipRanks’ Stock Analysis page.
