From CNBC:

Commerzbank reported a 55% increase in net profit for 2023, totaling 2.2 billion euros, thanks to high interest rates. The fourth-quarter net profit dipped 16% from the previous year but still beat expectations. Investors responded positively, sending shares up 4.7% and analysts described the results as “solid”. The bank expects net profit to remain above 2023 levels despite economic challenges. Costs were reduced to 6.4 billion euros in 2023.



Read more: High rates help Germany’s Commerzbank post best results in 15 years