Germany's Commerzbank has reported a 20% increase in net profit for 2024 and announced a €400 million share buyback program. This move is seen as an effort to enhance shareholder value and maintain independence amid potential acquisition interest from Italy's UniCredit.
REUTERS.COM
UniCredit has previously acquired a 9% stake in Commerzbank, signaling interest in a possible full takeover. In response, Commerzbank is considering strategic measures, including job cuts, to improve profitability and demonstrate its capability to operate independently.
FT.COM
The European banking sector is experiencing a wave of consolidation, with institutions like UniCredit seeking to expand through acquisitions. Commerzbank's latest financial performance and shareholder-focused initiatives aim to strengthen its position as it navigates these industry dynamics.
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