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Commerzbank ( (DE:CBK) ) has shared an announcement.
Commerzbank has successfully completed the first tranche of its third share buyback program, repurchasing 38,837,806 shares worth €600 million, which is part of a strategic effort to return at least 70% of its net result to shareholders for the 2024 financial year. The bank plans to further enhance shareholder returns through a second tranche of up to €400 million, pending approval, and aims to continue increasing capital returns in the coming years, positioning it positively in the financial market and benefiting stakeholders.
More about Commerzbank
Commerzbank is a leading financial institution focused on the German Mittelstand, offering a comprehensive range of financial services through its two main segments: Private and Small-Business Customers and Corporate Clients. It supports corporate, private, and small-business clients in Germany and internationally, with a strong presence in over 40 countries. The bank plays a significant role in Germany’s foreign trade and serves approximately 5.7 million customers through its innovative digital banking subsidiary, mBank S.A., in Poland, the Czech Republic, and Slovakia.
YTD Price Performance: 14.92%
Average Trading Volume: 2,156,382
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €21.44B
For an in-depth examination of CBK stock, go to TipRanks’ Stock Analysis page.
