Commerzbank (CBK) Q3 2026 earnings summary

Executive summary

• 9M 2026 operating result reached a record €4.037bn, up 17.3% YoY; net result rose 41.4% to €2.669bn and net RoTE reached 12.4%.

• Revenue advanced 7.6% to €9.717bn, led by commission growth and stronger customer business; Q3 operating result rose 25.3% to €1.312bn and net result reached €859m.

• 2026–2030 targets were reaffirmed; strategic focus includes profitable growth, client service, transformation and Momentum 2030 execution.

Financial highlights

• 9M revenue was €9.717bn; net interest income was €6.222bn and net commission income €3.250bn, up 8.3% YoY.

• Q3 revenue grew 8.9% to €3.199bn; net interest income rose 3.5% to €2.115bn and net commission income increased 8.8% to €1.072bn.

• 9M operating expenses increased 1.0% to €4.904bn; restructuring expenses fell to €1m from €553m, while 9M risk result was -€554m.

• 9M pre-tax profit was €4.036bn and profit after tax €2.901bn; EPS rose to €2.25 from €1.44.

Outlook and guidance

• FY26 revenue guidance remains ~€13.2bn, including NII of ~€8.5bn, NCI growth of ~7% to ~€4.3bn and net fair value and other income of ~€0.4bn.

• FY26 risk result is expected at ~€850m; costs at ~€7bn and cost-income ratio at ~53% including compulsory contributions.

• FY26 net result target remains at least €3.4bn; CET1 is expected above 14% after capital return and RoTE at ~12%.

• FY26 NII guidance was reduced from ~€8.6bn to ~€8.5bn amid deposit competition; net fair value and other income outlook rose from ~€0.3bn to ~€0.4bn.

• 2028/2030 targets include net result of €4.6bn/€5.9bn, net RoTE of ~17%/~21% and CIR of 46%/41% excluding compulsory contributions.