Germany's second-largest lender Commerzbank to cut 3,900 jobs as it unveils new targets

Published On Feb 13, 2025, 1:50 AM

Commerzbank plans to cut 3,900 jobs by 2028 as part of its new strategic targets. The bank's restructuring will incur approximately €700 million in one-time costs in 2025, but it projects a net profit of €2.4 billion for the same year. Despite trimming positions, Commerzbank maintains a targeted global workforce of around 36,700 and reported an increase in revenue for 2024, reaching €11.1 billion, up from €10.461 billion in 2023. Also, the bank plans a substantial share buyback and increased dividends, aiming for a payout ratio of over 100% during 2025-2028.