Commerzbank unexpectedly released quarterly results, revealing a “record” annual profit of 2.68 billion euros in 2024, exceeding market forecasts. The bank announced a new share buyback scheme of 400 million euros and proposed a dividend increase to 0.65 euros per share. Despite resistance from the German government, the results come amidst speculation of a potential takeover by UniCredit, which now holds a 9.5% direct stake and an 18.5% stake via derivatives in Commerzbank.
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