Commerzbank seeks share buyback, confirms annual outlook as Q2 profit dips

FRANKFURT (Reuters) – Germany’s Commerzbank (ETR:) said on Wednesday that net profit fell 4.8% in the second quarter, in line with expectations, and it confirmed its full-year targets.

Net profit of 538 million euros ($587 million) in the quarter compares with a profit of 565 million euros a year earlier. Analysts had on average expected a profit of 539 million euros, according to a July consensus forecast published by Commerzbank.

($1 = 0.9166 euros)