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German lender Commerzbank's profits jump as it fends off UniCredit

On Friday, German lender Commerzbank announced its strongest quarterly earnings in over a decade, amid growing shareholding by Italy's UniCredit.
UniCredit began building its stake last year and has increased it to nearly 30 percent, fueling takeover talks opposed strongly in Berlin.
Commerzbank reported a net profit of 834 million euros for the first quarter, marking an increase of nearly 12 percent, supported by stronger-than-anticipated interest and commission revenues, which helped push total revenues to 3.1 billion euros.
Chief executive Bettina Orlopp highlighted that the company posted its best quarterly earnings in over a decade, reflecting its ability to expand despite a tough economic environment.
Commerzbank will seek shareholder support next week in Wiesbaden to remain independent while planning 3,900 mostly German job cuts and share buybacks to attract investors.

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laverita.info

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Unicredit cda writes to Orcel: it's time to clear up climbing

On Sunday, the council of Piazza Gae Aulenti will also address the future of operations on Bpm and Commerzbank. Stocked between Mediobanca and Mps, with Lovaglio saying: "Next despite the maneuvers" . Officially the board of directors of Unicredit convened for Sunday will have to examine ...

8 hours ago

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Sueddeutsche Zeitung

+2 Reposted by 2 other sources

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22 hours ago·Munich, Germany

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ZDF

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From crisis to price miracle? Commerzbank surprises investors

In the first quarter Commerzbank makes clear the forecasts. Co-responsible is a daughter who was a long child of worry - now she pays off.

24 hours ago

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Tagesschau

Center

Commerzbank with largest quarterly profit since 2011

A few days ago, Deutsche Bank made its announcement, and today Commerzbank is following suit. Germany's second-largest bank is significantly increasing its profits. What does this mean for Unicredit's takeover attempt?

1 day ago·Hamburg, Germany

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Spiegel

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Commerzbank reports surprisingly high profit

It is the highest quarterly profit since the beginning of 2011: Commerzbank, which has been promoted by UniCredit, has started into the year with unexpectedly strong figures. Nevertheless, the financial institution is dismantling thousands of jobs.

1 day ago·Germany

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