Commerzbank: plans to resume dividend payment for 2018
(CercleFinance.com) - German lender Commerzbank said it made "good progress" in 2017, therefore aiming to resume dividend payments for financial year 2018.
In 2017, Commerzbank's net income reached 156 million euros, despite booking restructuring expenses of over 800 million euros.
Even though the group's 2017 operating profit of 1.3 billion euros was below the 1.4 billion euros recorded in 2016, it increased versus 2016 when excluding extraordinary items and valuation effects.
In addition to this, the bank expects to manage its costs at around seven billion euros this year, despite heavy investments in digitalisation and IT, and plans to resume dividend payments for the financial year 2018.
Investors warmly welcomed the news, with the stock rising 3% to 13.1 euros in early morning trading in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In 2017, Commerzbank's net income reached 156 million euros, despite booking restructuring expenses of over 800 million euros.
Even though the group's 2017 operating profit of 1.3 billion euros was below the 1.4 billion euros recorded in 2016, it increased versus 2016 when excluding extraordinary items and valuation effects.
In addition to this, the bank expects to manage its costs at around seven billion euros this year, despite heavy investments in digitalisation and IT, and plans to resume dividend payments for the financial year 2018.
Investors warmly welcomed the news, with the stock rising 3% to 13.1 euros in early morning trading in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.