Core Viewpoint - Commerzbank is experiencing a "mild recession" but has reported record annual profits and announced a new share buyback scheme [1] Financial Performance - Commerzbank achieved a 20% increase in net profit to 2.68 billion euros ($2.78 billion) in 2024, exceeding the consensus estimate of $2.47 billion [1] - The bank plans to repurchase 400 million euros of shares and increase its dividend payout to 0.65 euros per share, up from 0.35 euros per share in the previous year [2] Shareholder Actions - Following the quarterly results release, shares in Commerzbank rose by 2.3% [2] - The early release of results aligns with German legal requirements due to significant capital return expectations [3] Market Context - Commerzbank is positioning itself to remain independent amid speculation of a potential tie-up with UniCredit, which has increased its stake to 9.5% directly and 18.5% via derivatives [4]
Commerzbank posts 20% hike in annual profit and launches new share buyback as it wards off UniCredit