Commerzbank AG

XMUN:CBK

Record half-year: Commerzbank said first-half 2026 was a record period, with revenue up 7% to EUR 6.5 billion and net result up 40% to EUR 1.8 billion.

Outlook confirmed: Management reaffirmed full-year 2026 guidance, including revenue of about EUR 13.2 billion, net result of at least EUR 3.4 billion, and a cost-income ratio of around 53%.

Capital returns: The bank plans EUR 3.2 billion of capital return for 2026, including a share buyback of up to EUR 1.2 billion, and said at least 50% of the return will be paid as dividends.

UniCredit talks: Management said it is open to constructive discussions with UniCredit after the tender offer, but stressed it will continue to protect Commerzbank’s strategy and minority shareholders.

Business momentum: Growth was broad-based, led by fee income, Corporate Clients, and strong securities activity in Private and Small Business Customers.

AI and efficiency: The bank said AI investments are already delivering benefits, including rollout of tools to all employees and an AI assistant to around 2,800 staff.

Capital tailwind: Commerzbank expects a mid- to high single-digit billion reduction in RWA from internal model changes, with the benefit phasing in through Q2 2027.