Commerzbank reports better-than-expected 29% rise in Q1 profit

FRANKFURT, May 15 (Reuters) – Germany’s Commerzbank (CBKG.DE), opens new tab posted a better-than-expected 29% rise in first-quarter net profit on Wednesday, its strongest quarterly profit in a decade, and raised its outlook for net interest income for the full year.

Its net profit rose to 747 million euros ($808.25 million) in the quarter from a profit of 580 million euros a year earlier. Analysts had, on average, expected a profit of 652 million euros, according to an April consensus forecast published by Commerzbank.