(Finance) – Commerzbank recorded a net result of 2.68 billion euros in 2024increasing about 20% compared to the 2023 result, scoring a useful record for the bank. THE revenues They increased by 6% to 11.11 billion euros, thanks to a solid activity with customers. It was driven by the strongest growth of the expected income net from commissions of 7% to 3.64 billion euros. Net income from interest remained at a high level of 8.33 billion euros (vs 8.37 billion euros in 2023).
Commerzbank has The results announced by surprise, almost two weeks before expectedwhile it is committed to rejecting the interest of Unicredit For an acquisition. The updated strategy will be presented by the board on February 13, 2025 in Frankfurt (the same date on which the publication of the accounts was scheduled).
In the fourth quarter, the bank also benefited from the FX evaluation effects of the US dollar on AT1 bonds. Despite the “difficult economic context”, the credit portfolio proved solid: the Risk Result in 2024 was -743 million euros (2023: -618 million euros). The Cost-CHARGE RATIES It is further improved to 59%(2023: 61%), remaining below the initial objective of 60%. The performance of the proper capital (Root) increased to 9.2%(2023: 7.7%), significantly exceeding at least 8%.
Based on solid results, the bank plans to propose a dividend 0.65 euros per share (previous year: 0.35 euros). In addition, the board approved the implementation of another rekindle of shares with a volume of up to 400 million euros. The necessary approvals from the German financial agency and the European Central Bank were obtained. The reconciliation of shares will begin after the reporting of the financial year 2024 and it is expected that it will be completed within the annual general assembly in mid -May 2025.
In total, the bank provides its shareholders with a capital performance Of approximately 1.73 billion euros for the financial year 2024. This corresponds to a 71% distribution ratio of the net result after the deduction of the coupons at 1. For the years from 2022 to 2024, the performance of the capital amounts to 3.1 billion euros, or more than initially announced. The CET 1 report after the performance of the capital is 15.1%.
“We have Once the promise for the return of capital to our shareholders has been overcome – said the CEO Bettina Orlopp – Managing costs constantly and focusing on growth initiatives has allowed us to significantly increase the net result of the last financial year. Thanks to the increase in profitability and new growth initiatives, we will further increase the return to capital in the years to come. Commerzbank is and remains an interesting investment “.