Commerzbank, facing possible UniCredit takeover, posts 94% profit gain

FRANKFURT: Germany’s Commerzbank , nearing a possible takeover by Italy’s UniCredit , said on Thursday that net profit rose 94% in the second quarter, better than analysts had expected.

Net profit of €898 million ($1.04 billion) in the quarter compares with a profit of €462 million a year earlier.

Commerzbank institutional investors tender just over 1% of shares in UniCredit offer, German bank says

Analysts had on average expected profit of €845 million, according to a consensus forecast published by Commerzbank.