Commerzbank: confirms targets for FY 2024

(CercleFinance.com) - Sales improved to E2.
7bn in Q2 2024, thanks to a strong contribution from customer business (E2.6bn in Q2 2023).

Operating income amounted to E870m in Q2 (vs. E888m in Q2 2023).

For H1, this represents an increase of 11% to E1,954m (vs. E1,764m in H1 2023).

Net income after tax and minority interests amounted to E538m in Q2 (vs. E565m in Q2 2023). H1 net income improved by 12% to E1,285m (vs. E1,145m in H1 2023), the best result in 15 years.

At 30 June 2024, the Common Equity Tier 1 ratio (CET1 ratio) stood at 14.8% (30 June 2023: 14.4%, 31 March 2024: 14.9%).

We are well on track to achieve our targets for 2024. Our very good business performance and comfortable CET1 ratio encourage us in our intention to return more and more capital to our shareholders, management said.

After a solid H1, Commerzbank confirms its targets for FY 2024: the bank is still aiming for net income above the previous year's level.

The Bank continues to target net interest income of around E8.1bn, with potential for further growth for FY 2024.


Copyright (c) 2024 CercleFinance.com. All rights reserved.