Commerzbank Sees 45% Jump in Profit Ahead of UniCredit Deal

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Commerzbank reported third-quarter results on Thursday morning that fell slightly short of analysts' expectations, but also the bank's highest first-quarter profit in its history. Meanwhile, the merger with Italy's UniCredit is getting closer, as Reuters reports that the German financial institution's management now sees the acquisition as a value-creating opportunity.

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Revenue increased by 8.9%, reaching 3.2 billion euros, while lending income increased by 3.5% year-on-year.

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The German banking group Commerzbank, soon under the control of its Italian rival UniCredit, published on Thursday a sharp increase in quarterly results. The company intends to continue its downsizing.