Finance
Commerzbank Lifts Earnings Goals, Plans €600 Million Buyback
- Lender raises 2023 goals for higher lending income, profit
- Commerzbank gives details on ambitions in coming years
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Commerzbank AG raised earnings goals for the year as it continues to benefit from higher interest rates and announced a €600 million ($641 million) share buyback.
The bank said it now expects both profit and net interest income — or the difference between what it earns on loans and pays for deposits — to be ahead of its previous forecast. Both measures were higher in the third quarter than analysts surveyed by Bloomberg had expected.