WASHINGTON (dpa-AFX) - German lender Commerzbank AG (CRZBY.PK) reported Thursday higher profit and revenues in its third quarter. Further, the firm confirmed fiscal 2026 outlook for net profit and revenues, but trimmed net interest income view, citing increased competition for deposits.
In the third quarter, consolidated result increased 45.2 percent to €859 million from last year's €591 million.
Operating result climbed 25 percent to €1.312 billion in the third quarter from prior year's €1.047 billion, driven by higher revenues and stable costs.
In the quarter, Commerzbank increased its revenues by 9 percent to €3.199 billion from last year's €2.939 billion.
Adjusted revenues were €3.211 billion, up 9.2 percent from €2.940 billion a year ago.
Net interest income rose 3.5 percent to €2.115 billion from €2.044 billion last year, supported by higher contributions from the lending and deposit business with corporate clients and from the replication portfolio.
Net commission income increased 9 percent year-over-year to €1.072 billion, driven primarily by the strong securities business in the Private and Small-Business Customers segment in Germany.
Looking ahead for fiscal 2026, Commerzbank continues to expect net result of at least €3.4 billion, and revenues of around €13.2 billion.
Meanwhile, Commerzbank trimmed outlook for net interest income to around €8.5 billion from previous estimate of around €8.6 billion.
The Bank continues to expect net commission income to grow by around 7 percent to approximately €4.3 billion.
For the full year, Commerzbank continues to target a net RoTE of around 12 percent.
Overall, Commerzbank is targeting a capital return of around €3.2 billion for the 2026 financial year. The Bank continues to plan a combination of share buybacks and dividend payments, with the dividend component expected to increase to at least 50 percent.
The Bank also confirmed the targets of its 'Momentum 2030' strategy communicated on May 8 this year.
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