Commerzbank posts 20% hike in annual profit and launches new share buyback as it wards off UniCredit

Published On Jan 31, 2025, 8:40 AM

Commerzbank has reported a 20% increase in net profit for 2024, totaling 2.68 billion euros, exceeding market expectations. The bank is launching a share buyback program worth 400 million euros and will increase its dividend payout to 0.65 euros per share. CEO Bettina Orlopp emphasized the bank’s improved profitability and shareholder returns as core components of their strategy amid increasing competitive pressure from UniCredit, which has increased its stake in Commerzbank, raising speculation about a potential takeover.