Commerzbank Unveils €1 Billion Buyback to Meet Payout Pledge

Commerzbank AG said it’s planning a share buyback of as much as €1 billion ($1.2 billion) as Chief Executive Officer Bettina Orlopp seeks to make good on her promise to step up payouts.

The German lender also slightly improved its full-year guidance for net income, to about €2.5 billion from €2.4 billion, it said in a statement on Wednesday. Net interest income is now seen at about €8 billion, from about €7.8 billion previously, it said.