1033 GMT - Commerzbank's keeps on pushing with a new restructuring program and several revenue initiatives despite material profitability improvement in the past four years, Deutsche Bank says in a research note. The German lender outlined a 15% return on tangible equity target in its midterm strategy. "While this might be (too) ambitious, we like the new mindset pushing the boundary further, rather than slowing down as double digit returns are in sight," analysts write. They also sense a perception change by regulators as the lender is allowed to pay out the entirety of its profits to shareholders as its profitability and capital generation approaches the sector average. Shares trade 1.1% higher at 19.69 euros and have risen 25% since the start of the year. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 05:34 ET (10:34 GMT)
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