There is a “mild recession” on Manfred Knof.
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Commerzbank On Friday, he unexpectedly released three -month results, presenting a “record” annual profit and announcing a new stake redemption scheme.
The bank, whose website states plans to announce its earnings in the fourth quarter of February 13th, said that it reached a 20% increase in net profit at 2.68 billion euros (2.78 billion USD) in 2024. This is compared to 2.47 billion USD net prognosis for net profit by 2.47 billion USD period, according to a consensitive estimate cited by Reuters.
The group set the intention of buying 400 million euros in shares and suggested that it pays off dividends to increase to 0.65 euros per share, compared to 0.35 euros per share in the previous year.
The lender shares increased by 2.3% at 1:30 pm in London, after the announcement.
CNBC reached for Commerzbank for a comment on the reason behind the early release.
This news of news is updated.
