Commerzbank (CBK) Q2 2026 (Media) earnings summary

Executive summary

• Achieved record operating profit of €2,725m for H1 2026, up €330m year-over-year, driven by strong customer business and successful execution of the "Momentum 2030" strategy.

• Net commission income rose 8.1% to €2,178m, while net interest income remained stable at €4,106m.

• Consolidated profit attributable to shareholders increased 39.6% to €1,810m; EPS rose to €1.47 from €0.92.

• Cost/income ratio improved to 50.1% (excl. compulsory contributions), reflecting active cost management.

Financial highlights

• Operating profit: €2,725m (+13.8% YoY); consolidated profit: €1,810m (+39.6% YoY).

• Net commission income: €2,178m (+8.1% YoY); net interest income: €4,106m (flat YoY).

• Operating expenses: €3,267m (+1.0% YoY); compulsory contributions: €182m (+12.4% YoY).

• Total assets: €619.1bn (+4.9% vs. year-end 2025); risk-weighted assets: €182.4bn (+3.8%).

• CET1 ratio: 14.4% (down from 14.7% at year-end 2025); leverage ratio: 4.3%.

Outlook and guidance

• Net interest income for 2026 expected at ~€8.6bn; net commission income to grow ~7% YoY.

• Risk result forecast at ~€-850m; cost/income ratio target for 2026 is ~53%.

• CET1 ratio expected to remain above 14%; aim to return 100% of net income (after AT1 payments, before one-offs) to shareholders.

• Consolidated net profit for 2026 expected at least €3.4bn.