Commerzbank: record net profit in 2024
(CercleFinance.com) - On Friday Commerzbank announced record net profit last year, despite an economic environment described as 'difficult'.
The German banking group said it had increased its net profit by 20% to E2.68bn last year, from E2.22bn in 2023.
Net banking income also rose by 6% to E11.11bn.
The Frankfurt-based bank, which is currently being coveted by Italian giant UniCredit, has also launched a major shareholder appeal.
Based on the solid results generated in 2024, the group has announced that it intends to increase its annual dividend to E0.65, up from the current E0.35.
It also plans to launch a new share buyback program, worth up to E400m.
We have exceeded the capital redistribution promises we made to our shareholders, management said, adding that remuneration offered to shareholders would increase further in the coming years.
Following these announcements, the share was up 1.7% on Friday in Frankfurt, reaching highs last seen in 2011.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The German banking group said it had increased its net profit by 20% to E2.68bn last year, from E2.22bn in 2023.
Net banking income also rose by 6% to E11.11bn.
The Frankfurt-based bank, which is currently being coveted by Italian giant UniCredit, has also launched a major shareholder appeal.
Based on the solid results generated in 2024, the group has announced that it intends to increase its annual dividend to E0.65, up from the current E0.35.
It also plans to launch a new share buyback program, worth up to E400m.
We have exceeded the capital redistribution promises we made to our shareholders, management said, adding that remuneration offered to shareholders would increase further in the coming years.
Following these announcements, the share was up 1.7% on Friday in Frankfurt, reaching highs last seen in 2011.
Copyright (c) 2025 CercleFinance.com. All rights reserved.