DJ Commerzbank delivers best nine-month result in its history
Commerzbank Aktiengesellschaft (CZB) Commerzbank delivers best nine-month result in its history 05-Nov-2026 / 07:02 CET/CEST The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- -- Operating result after 9M increased by 17% to a new record high of EUR4bn - in Q3 up 25% to EUR1.3bn year-on-year -- 9M net result raised by 41% to a record EUR2.7bn and by 45% to EUR859m in Q3 -- Revenues after 9M increased by 8% to EUR9.7bn - up 9% to EUR3.2bn in Q3 -- Net commission income after 9M up by around 8% to EUR3.2bn, driven by strong securities business - up 9% to EUR1.1bn in Q3 -- Net interest income increased slightly to EUR6.2bn in the first nine months and to EUR2.1bn in Q3 -- Cost-income ratio incl. compulsory contributions improved to 53% after 9M and to 50% excl. compulsory contributions -- Q3 risk result of minus EUR210m in line with expectations - NPE ratio at 1.2% -- Net RoTE improved by around 4 percentage points to 12.4% after 9M and 11.9% in Q3 -- CET1 ratio at 14.2% -- 2026 outlook: key targets confirmed Commerzbank continued its strong performance in the first nine months of this year and delivered the best nine-month result in its history. The operating result increased by 17% to EUR4bn compared with the same period last year, while the net result rose significantly to EUR2.7bn. Net return on tangible equity (net RoTE) increased to 12.4% in the first nine months of the year. Revenues rose by 8% to EUR9.7bn, driven by an 8% increase in net commission income and higher net interest income. The significantly lower provisions for legal risks related to foreign currency loans at mBank also had a positive impact on revenues. At the same time, the Bank improved its cost-income ratio to 53% including compulsory contributions and to 50% excluding compulsory contributions. After nine months, the risk result amounted to minus EUR554m, in line with expectations. "We promised our stakeholders long-term value creation. With our record result, we have once again proven our ability to deliver. Our strong business performance demonstrates Commerzbank's potential," said Bettina Orlopp, CEO of Commerzbank. Progress on ongoing share buyback At the beginning of September this year, the Bank launched a further share buyback of up to EUR1.2bn. It has already repurchased shares amounting to around 70% of the targeted volume. The current progress report of the share buyback is available on the Investor Relations website. Overall, Commerzbank is targeting a capital return of around EUR3.2bn for the 2026 financial year, based on its net result target of at least EUR3.4bn. The Bank continues to plan a combination of share buybacks and dividend payments, with the dividend component expected to increase to at least 50%. It intends to return 100% of its net result after Additional Tier 1 (AT1) coupon payments and excluding extraordinary one-off items to its shareholders. Corporate client satisfaction at record level Commerzbank also made significant progress in implementing its "Momentum 2030" strategy during the summer quarter. In the Corporate Clients segment, the Bank continued to expand its offering, introducing enhanced features in the corporate client portal and in the Corporate Banking App. These improvements make banking services more easily accessible and enable clients to manage more of their day-to-day banking activities more easily. In addition, the Bank further expanded its commodities trading offering and increased the use of artificial intelligence (AI) in its trading activities. A newly introduced platform simplifies the processing of documentary trade finance transactions, helping companies secure their international flows of goods and payments. Commerzbank's strong expertise in foreign exchange is also reflected in its recognition by "Euromoney" as the best FX Bank for corporate clients in Germany. The Bank's own client survey also shows that corporate client satisfaction has reached a record level. Private and Small-Business Customers: Securities business further expanded The Private and Small-Business Customers segment in Germany continued to expand its securities business. Since the beginning of the year, clients have invested more than EUR5bn net in the three largest actively managed investment solutions: the in-house asset management as well as the asset solutions offered by Yellowfin and Allianz Global Investors. Commerzbank is also selectively enhancing its securities offering for private retirement provision. From the launch of the new government subsidy scheme in 2027, Commerzbank and comdirect will offer their customers retirement investment accounts that fully qualify for government funding. The Bank is combining the strengths of both brands with offerings tailored to different investment needs, enabling customers to build long-term wealth with government support. Commerzbank was also recently named "Best Primary Bank" by "Handelsblatt" in recognition of its product and service offering. The latest customer survey also showed a further significant improvement in customer satisfaction compared with the previous year. Personnel transformation progressing as planned Commerzbank also continued to make progress with its personnel transformation. Around 1,800 employees have already reached individual agreements for an orderly transition. In addition, the Bank has agreed with employee representatives on a further voluntary partial retirement programme, which is currently being implemented. More than 1,100 employees have already accepted the offer. This is complemented by further reductions through natural attrition and retirements. Commerzbank's attractiveness as an employer is reflected in the record number of applications it has received. Completion of UniCredit's takeover offer expected in the coming months On 15 October 2026, the European Central Bank (ECB) granted UniCredit regulatory approval to increase its stake in Commerzbank beyond the previously applicable regulatory threshold. Completion of the takeover offer, however, remains subject to further regulatory approvals. The remaining regulatory approvals are expected to be obtained during the fourth quarter or by early 2027 at the latest. "Our responsibility as Board of Managing Directors remains unchanged: in every situation, we must choose the path that creates the greatest value for our customers, our employees and our shareholders. We are convinced that together with UniCredit, we can create value by consistently leveraging the strengths of both banks," said Bettina Orlopp. Business performance: Net commission income grows by 9% in the third quarter In the third quarter, Commerzbank increased its revenues by 9% compared with the same quarter last year to EUR3,199m (Q3 2025: EUR2,939m). Net commission income increased by 9% to EUR1,072m (Q3 2025: EUR985m), driven primarily by the strong securities business in the Private and Small-Business Customers segment in Germany. Net interest income rose by more than 3% to EUR2,115m (Q3 2025: EUR2,044m), supported by higher contributions from the lending and deposit business with corporate clients and from the replication portfolio. Total costs remained at the level of the previous year's quarter at EUR1,677m (Q3 2025: EUR1,677m). Operating expenses increased only slightly to EUR1,638m (Q3 2025: EUR1,624m). This was mainly due to increased personnel expenses as a result of general salary adjustments, the expansion of shoring and sourcing activities, and the continued growth of mBank. The increase was partially offset by active cost management, lower administrative expenses, and lower year-on-year valuation-related expenses for equity-based variable compensation. At the same time, compulsory contributions declined to EUR40m (Q3 2025: EUR53m), as no contributions to the German and Polish deposit guarantee schemes were due in 2026. This was partially offset by a higher Polish banking tax due to mBank's balance sheet growth. Excluding mBank, Group costs declined slightly compared with the same quarter of last year to EUR1,404m (Q3 2025: EUR1,412m). The cost-income ratio including compulsory contributions improved to around 52% in the third quarter (Q3 2025: 57%); excluding compulsory contributions, it stood at 51% (Q3 2025: 55%). In the first nine months, Group costs increased slightly to EUR5,126m (9M 2025: EUR5,073m). In line with its full-year target, the Bank reduced the cost-income ratio to 53% including compulsory contributions (9M 2025: 56%) and to 50% excluding compulsory contributions (9M 2025: 54%). The risk result amounted to minus EUR210m in the third quarter (Q3 2025: minus EUR215m), in line with expectations. After nine months, it stood at minus EUR554m (9M 2025: minus EUR515m). The non-performing exposure (NPE) ratio was 1.2% (Q2 2026: 1.1%; Q3 2025: 1.0%). This underscores the high quality of the loan portfolio in a still challenging economic environment. Based on higher revenues and stable costs, Commerzbank increased its operating result by 25% to EUR1,312m in the third quarter (Q3 2025: EUR1,047m). After nine months, the operating result rose by 17% to EUR4,037m (9M 2025: EUR3,442m), marking the best nine-month result in the Bank's history. The net result after taxes and minorities increased by 45% to EUR859m in the third quarter (Q3 2025: EUR591m). For the nine-month period, it rose by 41% to EUR2,669m (9M 2025: EUR1,888m). In addition to the strong revenue performance, the increase in the first nine months compared with the prior-year period also reflects the restructuring expenses recognised in the prior-year period. The Bank's Common Equity Tier 1 (CET1) ratio stood at 14.2% as of 30 September 2026 (30 June 2026: 14.4%;
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November 05, 2026 01:02 ET (06:02 GMT)
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