Commerzbank is targeting a surplus of 2.2 billion euros - financial experts optimistic for 2023

Commerzbank is targeting a surplus of 2.2 billion euros - financial experts optimistic for 2023

According to a report by www.deraktionaer.de,
After a surprisingly successful quarter, Commerzbank has raised its forecast for the full year 2023 and is now targeting a surplus of around 2.2 billion euros. The net result is expected to rise to 3.4 billion euros by 2027. Investors had reacted positively to this prospect. The bank benefits primarily from increased net commission income and the sharp increase in net interest income.

The increased interest rates have caused the company's profits to rise significantly. In the third quarter of the current year, the bottom line profit rose to 684 million euros, exceeding analysts' expectations. In the first nine months, Commerzbank earned a good 1.8 billion euros, almost twice as much as the year before. Although the bank expects interest rates to turn around in 2024, it is confident that the level will be high enough to keep profits rising.

These developments are expected to have a positive impact on the market and the financial industry. The increased profits could entice investors to invest more in bank stocks. The prospect of rising profits could also strengthen investors' confidence in banks and lead to positive share price developments.

Commerzbank shares have already benefited from increased interest rates, and share price performance over the past few weeks suggests that the credit institution could exceed market expectations. It remains to be seen whether the shares can finally break out of the sideways range based on the figures. However, invested investors should still stay on board.