Commerzbank AG
European banks saw their best first-half since 1997, but maintaining returns will be a challenge
European banks have had a bumper start to the year, outperforming almost all other sectors as investors reward a recent period of improved profitability — but analysts warn returns may not have as far to run in the second half. The Stoxx 600 Banks index has risen more than 28% in the first six months […]
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UniCredit CEO says Commerzbank currently too expensive for takeover offer
Andrea Orcel, chief executive officer of Unicredit, in London, UK, on Thursday, Nov. 23, 2023. Bloomberg | Bloomberg | Getty Images UniCredit CEO Andrea Orcel on Wednesday told CNBC that the share price of potential takeover target Commerzbank is currently too prohibitively expensive for a merger deal. UniCredit has built a surprise stake in Commerzbank […]
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Europe stocks set to rise as investors look ahead to U.S.-China trade talks in Switzerland
European stock market futures point to a positive start after the U.K. and U.S. confirmed a trade agreement, and investors look ahead to the U.S.-China trade negotiations set to begin this weekend. The pan-European Stoxx Europe 600 index is expected to open higher by 0.3%, according to futures data from FactSet. The U.K.’s FTSE 100 […]
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Europe stocks hit fresh record high on earnings, Ukraine peace hopes
European stock markets were broadly higher Thursday, amid a flurry of earnings and economic data and rising hopes of an end to the Russia-Ukraine war. The regional Stoxx 600 index maintained positive momentum from earlier this week, when it marked three record closing highs, gaining another 0.74% by midday in London to hit another all-time intraday peak. Markets […]
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Germany’s second-largest lender Commerzbank to cut 3,900 jobs as it unveils new targets
The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty Images Germany’s second-largest lender Commerzbank on Thursday announced it will eliminate 3,900 full-time positions by 2028, largely in its native Germany, as it unveiled a spate of new strategic targets. The job […]
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Italy’s UniCredit posts fourth-quarter profit beat, raises shareholder returns
Key Points Italy’s second-largest lender UniCredit on Tuesday posted a fourth-quarter profit beat, raising shareholder returns amid market focus on the bank’s M&A overtures. The bank upped its cash dividend pay-out guidance to 50% of net profit in 2025, from 40% in 2024. CEO Andrea Orcel said UniCredit was progressing onto the next phase of […]
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Santander shares jump 7% after lender announces record quarterly profit, 10-billion-euro buyback
Shares of Banco Santander jumped after Spain’s largest lender reported record profit in the fourth quarter and announced plans for 10 billion euros ($10.4 billion) in share buybacks from 2025 and 2026 earnings and anticipated excess capital. The bank’s net profit picked up by 11% year-on-year to 3.265 billion euros in the fourth quarter and […]
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Commerzbank posts 20% hike in annual profit and launches new share buyback as it wards off UniCredit
Key Points Commerzbank bank said it achieved a 20% increase in net profit to 2.68 billion euros ($2.78 billion) in 2024. This compares with a $2.47 billion net profit forecast for the period, according to a consensus estimate cited by Reuters. The group will deliver its annual strategy update and outlook on Feb. 13. “We […]
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Deutsche Bank posts steeper-than-expected Q4 profit fall and scraps cost target
In this article .BBKA Follow your favorite stocksCREATE FREE ACCOUNT Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. Mike Kemp | In Pictures | Getty Images Germany’s largest lender Deutsche Bank on Thursday reported weaker-than-expected profit that fell sharply in the last three months of 2024, as legal […]
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Italy’s Mediobanca rejects Monte dei Paschi’s ‘destructive’ 13-billion-euro takeover bid
Key Points Tuscany’s bailed-out Monte dei Paschi unexpectedly launched a 13-billion-euro all-share takeover proposal for Mediobanca. Monte dei Paschi, which required state rescue in 2017 after years of battering losses, has long been the poster child of trouble in the Italian banking sector. Monte dei Paschi’s investors include Mediobanca shareholders such as business tycoon Francesco […]
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