BRUSSELS (dpa-AFX) - Commerzbank (1CBK.MI) on Friday reported an increase in profit in the first quarter, driven by higher fee income, despite slightly weaker net interest income. The bank also raised its full-year outlook for profit and net interest income.
Pre-tax profit rose to €1.357 billion from €1.187 billion a year earlier, reflecting an 14.4% year-on-year increase.
Operating profit grew to €1.358 billion or €1.25 per share from €1.227 billion or €1.07 per share in the previous year.
Net profit attributable to Commerzbank shareholders increased to €913 million or €0.84 per share from €834 million or €0.73 per share last year.
Net interest income edged down to €2.047 billion from €2.071 billion, a 1.1% decline, while net commission income rose 8.9% to €1.102 billion.
For the full year, Commerzbank currently expects net interest income of around €8.6 billion, up from its previous outlook of €8.5 billion. Profit attributable to shareholders is now expected to be at least €3.4 billion, compared with the earlier forecast of more than €3.2 billion. The bank continues to expect net commission income for 2026 to increase by 7% from the prior year.
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