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Commerzbank has successfully completed its €400 million share buyback program, repurchasing 18,335,008 shares at an average price of €21.81. This initiative is part of a broader capital return plan for 2024, totaling approximately €1.73 billion, which includes share buybacks and a proposed dividend of €0.65 per share. CEO Bettina Orlopp highlighted the bank's commitment to returning capital to shareholders, with a total return of €3.1 billion planned from 2022 to 2024.
Commerzbank has successfully completed a €400 million share buyback, repurchasing 18,335,008 shares, which represents 1.5% of its share capital. This buyback is part of a total capital return of €1.73 billion for the 2024 financial year, including a proposed dividend of €0.65 per share. CEO Bettina Orlopp emphasized the bank's commitment to enhancing profitability and shareholder returns, with a target payout ratio of 100% for the 2025 financial year.
Goldman Sachs has reinstated coverage on Commerzbank AG with a Neutral rating and a price target of EUR25.50, noting a year-to-date share surge of 53.76%. Despite strong earnings growth potential and a projected return on tangible equity increase, the current valuation reflects these prospects, leading Goldman to suggest more attractive investment opportunities elsewhere in the European banking sector.In related news, Deutsche Bank raised its price target for Commerzbank to EUR22.00, maintaining a Buy rating, while the bank's CEO plans significant job cuts to enhance profitability. Additionally, short interest in Commerzbank has risen to 10%, indicating a potential high-risk squeeze scenario.
European stock markets declined as investors reacted to recent monetary policy decisions, with Germany's DAX falling 1.9% and France's CAC 40 down 1.3%. Commerzbank shares plummeted over 5% after CEO Bettina Orlopp stated there had been no discussions with UniCredit regarding a stake acquisition. Meanwhile, oil prices saw slight declines following a report of increased U.S. crude inventories, despite signs of strong demand.
Commerzbank CEO Bettina Orlopp confirmed that there have been no discussions with UniCredit since the European Central Bank approved the Italian lender's potential stake of up to 29.9%. Orlopp noted that their previous meeting was solely an investor-focused event following Commerzbank's capital markets day on February 13. She emphasized her commitment to Commerzbank's standalone strategy while remaining open to any compelling proposals for a combination.
Commerzbank has not engaged in discussions with UniCredit following the European Central Bank's approval for UniCredit to acquire a stake of up to 29.9%. CEO Bettina Orlopp confirmed that their last interaction was during an investor meeting in February, emphasizing Commerzbank's focus on its standalone strategy. UniCredit plans to take time before deciding on a full takeover, potentially waiting until 2027.
Commerzbank CEO Bettina Orlopp reported a strong start to the year across all segments, expressing confidence in upcoming first-quarter results despite concerns over tariffs impacting Germany's economic growth. The bank's strategy anticipates 1% growth in the coming years, with a cautious 0.5% forecast for this year. Orlopp's focus on profitability aims to protect against a potential takeover by UniCredit, as shares have surged 80% since September.
Commerzbank CEO Bettina Orlopp reported a strong start to the year across all segments, expressing confidence ahead of the first-quarter results in mid-May. Despite optimism following Germany's new defense and infrastructure spending plan, she cautioned that US tariffs could negatively impact economic growth this year. Orlopp remains hopeful, aiming for 1% growth in Germany over the coming years, while acknowledging a more cautious outlook from economists for 2025.
Commerzbank's shares fell approximately 6% following CEO Bettina Orlopp's remarks about anticipated higher risk results in 2025, which could lead to increased bankruptcies in Germany. If the losses persist, it would mark the bank's worst day since September 2023. Meanwhile, the European banking index declined by 2.4% amid uncertainty after the U.S. Federal Reserve decided to keep interest rates unchanged.
Commerzbank's CEO Orlopp confirmed that there have been no discussions with UniCredit following the ECB's approval for UniCredit to acquire up to 29.9% of Commerzbank. While UniCredit may consider a full takeover next year, Orlopp emphasized her focus on Commerzbank's standalone strategy, noting that their previous meeting was solely for investors.
Bettina Orlopp
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