Commerzbank reports first-half profit of 1.8 billion (+40 per cent). Orlopp: UniCredit cannot decide on its own
The German bank has confirmed the targets set out in its plan. Shareholders are set to receive 3.2 billion in 2026
(Il Sole 24 Ore Radiocor) - Commerzbank closed the first half of the year with a net profit of 1.8 billion, a new all-time high for the bank, up 39.6 per cent compared with the same period in 2025. In the second quarter alone, profit almost doubled year-on-year to 898 million. Turning to the half-year, revenue grew by 7% to 6.5 billion, with net interest income at 4.1 billion (-0.6%) and fee and commission income at 2.2 billion (+8.1%). Expenses stood at 3.3 billion (+1%), bringing the cost-to-income ratio down to 53 per cent. As for capital adequacy, the CET 1 ratio stood at 14.4 per cent, compared with 14.5 per cent at the end of March. Commerzbank has confirmed the targets of its Momentum 2030 plan. In particular, the bank plans to launch the 1.2 billion buyback, already approved by the ECB, following the go-ahead from the German authorities. For the 2026 financial year, it expects to return 100 per cent of profit to shareholders, net of coupon payments on AT1 securities: given the target net profit of at least 3.4 billion, shareholders will therefore receive around 3.2 billion. Commerzbank “will continue to rely on a combination of share buybacks and dividends, with the dividend component expected to rise to at least 50 per cent”.
“In the first half of the year, we achieved a new record result,” commented CEO Bettina Orlopp. “This demonstrates the strength of our business model. Through our strategy, we are reliably creating value for all our stakeholders.” “We are growing profitably, investing in our future and demonstrating the strength of our model to our customers every day,” she concluded. “On this basis, we are planning the next share buyback.”
Orlopp: UniCredit cannot decide on its own; dialogue is needed
“Even when UniCredit secures a majority at the next shareholders’ meeting, it will not be able to decide unilaterally on fundamental structural measures.” This was stated by Commerzbank’s CEO, Bettina Orlopp, whilst commenting on the German bank’s first-half results. “This creates a clear responsibility for both parties,” she added, “and requires a mutual understanding of the business model and the involvement of all stakeholders.” To achieve a result that creates value, therefore, “constructive dialogue” will be needed.
