MBank

Commerzbank increases net profit for 2023 to €2.2 billion – Strategy is delivering

Retrieved on: 
Thursday, February 15, 2024
Rote, Commerzbank, NPE, German Finance Agency, DACH, Bank, TLA, Growth, ECM, Equity capital markets, Risk, Private, Central bank, MBank, European Central Bank, ODDO BHF, PSBC, RWA, Tax, Policy, Common equity, AT1, Annual, Executive officer, Research, Environment, Partnership, Cryptocurrency

On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.

Key Points: 
  • On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.
  • Net interest income rose by a third to €8.368 billion (2022: €6.459 billion), while net commission income was slightly down at €3.386 billion (2022: €3.519 billion).
  • Net profit also rose accordingly: compared to the previous year, net profit after taxes and minority interests increased by 55% to €2.224 billion (2022: €1.435 billion).
  • Revenues amounted to €1.106 billion (Q3 2023: €1.171 billion); the operating result totalled €508 million (Q3 2023: €644 million).

EQS-News: Commerzbank increases net profit for 2023 to €2.2 billion – Strategy is delivering

Retrieved on: 
Thursday, February 15, 2024
Rote, Commerzbank, NPE, German Finance Agency, DACH, Bank, TLA, Growth, ECM, Equity capital markets, Risk, Private, Central bank, MBank, European Central Bank, ODDO BHF, PSBC, RWA, Tax, Policy, Common equity, AT1, Annual, Executive officer, Research, Environment, Partnership, Cryptocurrency

On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.

Key Points: 
  • On this basis, we will achieve a further increase in net profit for the current year”, said CEO Manfred Knof.
  • Net interest income rose by a third to €8.368 billion (2022: €6.459 billion), while net commission income was slightly down at €3.386 billion (2022: €3.519 billion).
  • Net profit also rose accordingly: compared to the previous year, net profit after taxes and minority interests increased by 55% to €2.224 billion (2022: €1.435 billion).
  • Revenues amounted to €1.106 billion (Q3 2023: €1.171 billion); the operating result totalled €508 million (Q3 2023: €644 million).

Commerzbank lays foundation for further strategic plan with strong 9M net profit – targeting RoTE of more than 11% in 2027

Retrieved on: 
Wednesday, December 27, 2023
AT1, Private, TLA, Bank, European Central Bank, MBank, Environment, Commerzbank, PSBC, FX, Face, Risk, Central bank, Economic development, Annual, Yellow-fin, Common equity, German Finance Agency, MDA, Rote, Growth, Wealth management, Investment, Capital market, NPE

The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.

Key Points: 
  • The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.
  • By 2027, the revenue base is to be further expanded through consistent customer orientation and profitability is to be continuously increased.
  • The Bank’s financial steering will continue to be based on the cost-income ratio, which is planned to improve to around 55% by 2027.
  • For 2022 to 2024, the plan is still to distribute a total of €3 billion to shareholders through dividends and share buy-backs.

Polish Mobile Payment System BLIK to Modernize and Expand into Romania and Slovakia with DXC Technology

Retrieved on: 
Wednesday, November 22, 2023
Santander Bank Polska, PKO Bank Polski, BLIK, DXC, MBank, Alior Bank, Annual report, PSP, Risk, Mastercard, DXC Technology, Bank Millennium, ATM, ING Group, Society

WARSAW, Poland, Nov. 22, 2023 /PRNewswire/ -- DXC Technology, a leading Fortune 500 global technology services provider, will support Polish Payment Standard (PSP) in the expansion of its mobile payment system, BLIK, into Romania and Slovakia.

Key Points: 
  • WARSAW, Poland, Nov. 22, 2023 /PRNewswire/ -- DXC Technology, a leading Fortune 500 global technology services provider, will support Polish Payment Standard (PSP) in the expansion of its mobile payment system, BLIK, into Romania and Slovakia.
  • DXC will modernize and adapt the BLIK central system to meet payment standards in Romania and Slovakia.
  • DXC will ensure BLIK is able to handle transactions in Romanian Leu and Euros, and can connect to the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system.
  • One of the largest payment systems in Poland, BLIK is at the forefront of driving a new era of digital payments in the region.

Nuvei integrates BLIK into its APM suite for eCommerce

Retrieved on: 
Monday, November 13, 2023
Santander Bank Polska, BLIK, PKO Bank Polski, MBank, Alior Bank, PSP, Mastercard, Cropping system, Nuvei, Bank Millennium, ING Group, TSX, E-commerce, APM, Online shopping

MONTREAL, Nov. 13, 2023 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has added direct connectivity to BLIK, the leading mobile payment method (APM) in Poland, into its suite of 669 APMs available for eCommerce businesses to offer through a single integration.

Key Points: 
  • MONTREAL, Nov. 13, 2023 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has added direct connectivity to BLIK, the leading mobile payment method (APM) in Poland, into its suite of 669 APMs available for eCommerce businesses to offer through a single integration.
  • In addition to traditional BLIK payments, Nuvei also enables merchants to offer BLIK One Click.
  • Adding BLIK to our suite of over 600 APMs through a single integration enables our partners to efficiently reach their customers more completely."
  • Currently, virtually every customer of domestic payment institutions offering a mobile application has the option of using BLIK in mobile banking applications.

Nuvei integrates BLIK into its APM suite for eCommerce

Retrieved on: 
Monday, November 13, 2023
Santander Bank Polska, BLIK, PKO Bank Polski, MBank, Alior Bank, PSP, Mastercard, Cropping system, Nuvei, Bank Millennium, ING Group, TSX, E-commerce, APM, Online shopping

MONTREAL, Nov. 13, 2023 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has added direct connectivity to BLIK, the leading mobile payment method (APM) in Poland, into its suite of 669 APMs available for eCommerce businesses to offer through a single integration.

Key Points: 
  • MONTREAL, Nov. 13, 2023 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has added direct connectivity to BLIK, the leading mobile payment method (APM) in Poland, into its suite of 669 APMs available for eCommerce businesses to offer through a single integration.
  • In addition to traditional BLIK payments, Nuvei also enables merchants to offer BLIK One Click.
  • Adding BLIK to our suite of over 600 APMs through a single integration enables our partners to efficiently reach their customers more completely."
  • Currently, virtually every customer of domestic payment institutions offering a mobile application has the option of using BLIK in mobile banking applications.

EQS-News: Commerzbank lays foundation for further strategic plan with strong 9M net profit – targeting RoTE of more than 11% in 2027

Retrieved on: 
Thursday, December 14, 2023
Yellow-fin, Risk, Private, AT1, German Finance Agency, European Central Bank, Face, Annual, NPE, PSBC, Common equity, Wealth management, MBank, Environment, Commerzbank, FX, MDA, Growth, Economic development, Bank, Capital market, CET, Rote, Central bank, TLA, Investment, Security (finance), Cryptocurrency, Retail, Life insurance, Video game, Q3

The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.

Key Points: 
  • The Bank has almost achieved the key targets of its “Strategy 2024” and has laid a strong foundation for the targeted higher pay-out.
  • By 2027, the revenue base is to be further expanded through consistent customer orientation and profitability is to be continuously increased.
  • The Bank’s financial steering will continue to be based on the cost-income ratio, which is planned to improve to around 55% by 2027.
  • For 2022 to 2024, the plan is still to distribute a total of €3 billion to shareholders through dividends and share buy-backs.

Commerzbank with strong first half of the year – net profit increased by almost 50% to €1.1 billion

Retrieved on: 
Friday, August 4, 2023
NPE, German Finance Agency, European Central Bank, Air Commerz, Private, TLA, RWA, Common equity, European Court of Justice, Commerzbank, MBank, Central bank, Semiconductor Manufacturing International Corporation, Share repurchase, European Court, Risk, ECB, AT1, ECJ, PSBC, Growth, Bank, MDA, Rote, Cryptocurrency, Renewable energy, Real estate, Video game

Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.

Key Points: 
  • Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.
  • Operating expenses increased to €1.481 billion (Q2 2022: €1.423 billion) as a result of earlier increases of accruals for variable compensation and general salary increases.
  • Thanks to the positive stock market performance, the securities volume increased to €208 billion (Q1 2023: €202 billion).
  • Deposit volumes remained stable at €96 billion (Q1 2023: €95 billion), with increased interest rates gradually being passed on.

EQS-News: Commerzbank with strong first half of the year – net profit increased by almost 50% to €1.1 billion

Retrieved on: 
Friday, August 4, 2023
NPE, German Finance Agency, European Central Bank, Air Commerz, Private, TLA, RWA, Common equity, European Court of Justice, Commerzbank, MBank, Central bank, Semiconductor Manufacturing International Corporation, Share repurchase, European Court, Risk, ECB, AT1, ECJ, PSBC, Growth, Bank, MDA, Rote, Cryptocurrency, Renewable energy, Real estate, Video game

Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.

Key Points: 
  • Revenues increased by 8.7% to €2.629 billion in the second quarter (Q2 2022: €2.420 billion) despite the additional burdens from the Swiss franc mortgages at the Polish subsidiary mBank.
  • Operating expenses increased to €1.481 billion (Q2 2022: €1.423 billion) as a result of earlier increases of accruals for variable compensation and general salary increases.
  • Thanks to the positive stock market performance, the securities volume increased to €208 billion (Q1 2023: €202 billion).
  • Deposit volumes remained stable at €96 billion (Q1 2023: €95 billion), with increased interest rates gradually being passed on.

EQS-News: Commerzbank continues to aim for a significantly higher net profit in 2023 despite additional burdens in Poland

Retrieved on: 
Friday, June 23, 2023
ECJ, PLN, European Court, European Court of Justice, MBank, Commerzbank, Bank

Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).

Key Points: 
  • Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).
  • The additional provisions in Poland will have a corresponding negative impact on Commerzbank’s operating result in the second quarter of the current year.
  • Despite this burden, Commerzbank still aims for a net result in 2023 well above that of 2022.
  • In addition, a legal solution to the foreign currency issue in Poland would be desirable.”