Commerzbank AG

High rates help Germany’s Commerzbank post best results in 15 years

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Commerzbank on Thursday reported a 55% hike in net profit for 2023, as high interest rates helped the German banking giant report its best results in 15 years. Net profit for the year beat expectations to come in at 2.2 billion euros ($2.36 billion), up from 1.4 billion euros a year earlier. For the fourth … Read more

A Germany central bank official warns lenders as insolvencies rise

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The headquarters of German banks Deutsche Bank (L) and Commerzbank in Frankfurt, Germany. FRANK RUMPENHORST | DPA | Getty Images Germany’s major banks need to increase their provisions for non-performing loans, as corporate insolvencies and credit risks mount, according to Bundesbank Vice-President Claudia Buch. Europe’s largest economy has been dubbed the “sick man of Europe” … Read more