Commerzbank Q2 Net Result Rises; Confirms Full-year Outlook

(RTTNews) - Commerzbank AG (1CBK.MI, CBK.DE) reported that its second quarter net result attributable to shareholders increased to 898 million euros from 462 million euros, prior year. Operating result increased by around 17% to 1.37 billion euros in the second quarter.

Second quarter revenues increased by 9% to 3.30 billion euros from 3.02 billion euros, prior year. Revenues excluding exceptional items was 3.31 billion euros, an increase of 7.2%. The Bank maintained net interest income at the prior-year level, reaching 2.06 billion euros. Net commission income rose by 7% to 1.08 billion euros.

Commerzbank said it remains firmly on track to achieve full-year net result target of at least 3.4 billion euros. The Bank continues to expect net interest income of around 8.6 billion euros and remains committed to achieving growth in net commission income of around 7%. Commerzbank expects revenues of around 13.2 billion euros for the full year. The Bank also confirmed the targets of its Momentum 2030 strategy.

At last close on the XETRA exchange, Commerzbank shares were trading at 39.35 euros, down 0.76%.

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