Commerzbank Achieves Record Profit and Targets Growth by 2028

Commerzbank reported a significant profit increase of 20% for 2024, reaching approximately €2.7 billion. The core driver was a 6% rise in revenues, attributed to robust customer business. Operating profits rose by 12% to €3.8 billion, while the cost-income ratio improved to 59%. Strategic shifts and focus on asset management are set to accelerate growth, with a return on tangible equity target of 15% by 2028.

Despite interest rate cuts, net interest income remained strong at €8.3 billion. The risk result demonstrated resilience, with a minor increase to minus €743 million. Commerzbank's ongoing transformation strategy, "Momentum," outlines plans for digitalization, AI integration, and resource optimization to boost efficiency and growth.

The bank successfully diversified income streams, increasing net commission income by 7% to €3.6 billion. Commerzbank aims for a full capital return to shareholders through high dividends and buybacks, supported by a CET 1 ratio of 15.1%.