Reported about 10 hours ago
Commerzbank reported a surprising nearly 12% rise in net profit for Q1, totaling 834 million euros, overshadowing economic challenges and a potential takeover from UniCredit. This profit growth, the highest since 2011, stems from better-than-expected interest income and reduced bad loan provisions. As UniCredit, Commerzbank's second-largest shareholder, pushes for a merger, Commerzbank remains focused on its standalone strategy, positioning itself amidst a stagnating German economy and rising concerns about loan defaults.
Source: YAHOO