Commerzbank posted a record first-half net result of €1.81 billion on Thursday, up 40% on the same period a year earlier, as Germany's second-largest listed lender continued its series of record results. Second-quarter net result almost doubled to €898 million from €462 million a year earlier, when restructuring expenses weighed on the comparison.
The Frankfurt-based bank reported first-half revenues of €6.5 billion, an increase of 7% compared with the first six months of 2025, while the operating result advanced 14% to €2.7 billion. Management confirmed the outlook for 2026 alongside the interim figures, published in the group's second-quarter press release.
RECORD PROFITS ACROSS THE FRANCHISE
The first-half net result was the highest in the bank's history, rising by around 40% to €1,810 million from €1,296 million. Revenue growth was driven in particular by net commission income, which rose 8%, while net interest income remained almost stable year on year despite significantly lower interest rates in Poland.
Operating result growth of 14% to €2.7 billion outpaced the 7% revenue expansion, as costs rose by less than 2% to €3,449 million. The bank's second-quarter net result of €898 million compared with €462 million a year earlier, while the quarterly operating result rose 17% to a record €1.37 billion.
OUTLOOK CONFIRMED AMID UNICREDIT SPOTLIGHT
Commerzbank confirmed its full-year outlook and the targets of its "Momentum 2030" strategy. Commenting on UniCredit's takeover offer, whose acceptance level was announced on 8 July and which gave the Italian bank access to almost half of the German lender's shares through direct holdings and derivatives, chief executive Bettina Orlopp said that even when UniCredit holds a majority at the next annual general meeting, it cannot unilaterally decide on fundamental structural measures, which "creates a clear responsibility for both sides".
Net return on tangible equity rose to a record 12.6% in the first half, and the cost-income ratio including compulsory contributions improved by around 3 percentage points to 53%.
Alongside the results, Commerzbank said its next share buyback of up to €1.2 billion had been approved by the ECB and would proceed once the German Finance Agency also gives its approval. For 2026 the bank aims for a total capital return of around €3.2 billion, based on its net result target of at least €3.4 billion.