According to the COMMERZBANK CEO Manfred Knof, “mild recession” is on the card.
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Friday COMMERZBANK has unexpectedly released results for each quarter, advertising the “record” annual profits, and announced a new stock buying scheme.
Banks stated that net income increased by 20 % in 2024, according to the consensus quoted quoted by Reuters.
The group has laid out the intention to buy 400 million euros and raises dividend payments to 0.65 euros per share, compared to 0.35 euros per share of the previous year.
The lender’s shares rose 2.3 % at 1:30 pm in London time after release.
The group first listed on February 13 to publish the fourth quarter and annual revenue. The early release will take a step with German legal requirements when the amount of capital is returned significantly exceeds the capital market expectations.
The result is that after building a surprising interest in Italy, UNICREDIT, UNICREDIT is interested in potential partnership, COMMERZBANK is independent. Because it is. Unicredit built the stock in September, then owned 9.5 % of stocks and 18.5 % of stocks through COMMERZBANK’s derivatives, and then increased their positions.
This fast news article has been updated.
