Commerzbank AG revealed on Friday that its net profit in the second quarter of fiscal 2023 surged 20% on an annual basis, to reach €565 million. In the reported period, year over year, total revenues were up 8.7% to €2.6 billion, while operating profit jumped 19.1% to €888 million.
In the first half of fiscal 2023, net profit skyrocketed 49.1% compared to the same timeframe a year ago, coming in at €1.1 billion. Meanwhile, total revenues increased 1.6% on a yearly level to €5.3 billion and operating profit soared 36.8% to €1.8 billion.
"The first half of the year was yet another very good one for Commerzbank. We are consistently implementing our strategy and have significantly increased profits thanks to strong revenues from our customer business, despite additional high burdens from Swiss franc mortgages in Poland. We are fully on track to achieve our targets for 2023 and 2024," Chairman of the Board of Managing Directors Manfred Knof said.
