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Commerzbank: Possible Revenue Upgrade But Nothing On German Credit Quality

FINANCIALS

Next up, Commerzbank (CBK GY) with comments from MS conference: which could infer a small revenue upgrade but has nothing specific on German asset quality.


  • Bank had “very good” for two months of 2024, next buyback will be greater than last and bank wants to grow net income in 2024.
  • Consensus is for net income to be +6.6% in FY24 but revenue growth is just 4.8% (from 10.6% reported in 2023) which seems rather more subdued than “very good” might indicate. Some could infer an upgrade here.

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