Commerzbank Reports 20% Surge in Net Profit for 2024
FRANKFURT (Reuters) - German banking giant Commerzbank announced a 20% increase in net profit for the fiscal year 2024. The bank disclosed its earnings nearly two weeks earlier than scheduled amid ongoing speculation regarding a potential merger with Italy's UniCredit.
Commerzbank's net profit reached €2.68 billion ($2.78 billion) for the year, a notable increase from the €2.22 billion reported in 2023. This performance exceeded analyst expectations, which had projected a profit of €2.47 billion. According to the bank, the 2024 profit represents a record high for the institution.