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Commerzbank: outlook raised for 2023

( - Announcing a good Q3 performance, Commerzbank has raised its outlook for FY 2023, now expecting net profit of around E2.
2bn ond sales of around E10.6bn.

For the past quarter, the German bank reported a 3.5-fold increase in net income, group share, to E684m on sales that rose 46% to E2.75bn, in particular thanks to the continued favourable impact of interest rates.

In a strategy update, Commerzbank estimates that by 2027, its net profit should reach E3.4bn, with a RoTE of over 11%, with an improved cost/income ratio of around 55%.

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