Commerzbank AG’s profit rose 45% in the third quarter, coming in slightly ahead of analysts’ estimates. The results are among the bank’s last as an independent lender before UniCredit SpA takes control of the German rival.
Revenue increased 8.9% year over year, while income from lending rose 3.5%. Commerzbank lowered its outlook for net interest income this year to €8.5 billion from €8.6 billion, citing intense competition for deposits.
The bank confirmed its targets for profit and revenue.
Sources: Bloomberg Markets.