Commerzbank Achieves 15-Year High with Record Profits

Commerzbank reported a 55% increase in net profit for 2023, reaching 2.2 billion euros, its best results in 15 years, driven by high interest rates. Despite a 16% decrease in fourth-quarter net profit, the full-year performance exceeded expectations, leading to a 3.7% rise in shares. The bank anticipates challenges from the economic slowdown but expects net profit to surpass 2023 levels. Following a successful business overhaul, Commerzbank reduced costs and received positive analyst ratings.