Still sees FY net profit above 2023 (Il Sole 24 Ore Radiocor) - Berlin, 07 Aug - The German bank Commerzbank said that in the second quarter net profit fell to 538 million euros from 565 million a year earlier as operating profits dropped to 870 million euros from 888 million.

Revenue improved to 2.7 billion euros from 2.6 billion with strong contributions from customer business, the bank said.

The common equity tier one ratio was 14.8%.

Net profit for the full year is still targeted to be higher than 2023, it added.

'We have applied to the ECB and the German Finance Agency for a third share buyback with a first tranche totalling 600 million euros,' said the chief financial officer, Bettina Orlopp.

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(RADIOCOR) 07-08-24 19:07:49 (0645) 5 NNNN