Wednesday, March 29, 2023
HomeMarketCommerzbank 4Q Net Pft EUR1.44B

Commerzbank 4Q Net Pft EUR1.44B

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By Ed Frankl

Commerzbank AG said Thursday that its fourth-quarter profit beat expectations, after revenue surged on higher interest income.

Germany’s second-largest lender said net profit in the three months to the end of December was 472 million euros ($504.5 million), up from EUR421 million in the same period of last year.

Total revenue, its top-line figure, jumped 13% on year to EUR2.36 billion.

The results compare with company-compiled consensus of net profit of EUR374 million on revenue of EUR2.48 billion.

The Frankfurt-based bank said its net interest income rose 51% to EUR1.96 billion, based on higher interest rates.

The company also said it would launch a buyback of EUR122 million, subject to approval from the European Central Bank.

On Wednesday, it declared a dividend for the year of 20 European cents per share as part of a capital-return payout ratio of 30% of 2022 net profits.

Commerzbank guided for 2023’s net profit to be above 2022’s, with NII above EUR6.5 billion and boosting its payout ratio to 50%.

Write to Ed Frankl at


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