German Lender Commerzbank's Profits Jump As It Fends Off UniCredit

Fuente: International Business Times

Commerzbank's headquarters in Frankfurt AFP German lender Commerzbank on Friday reported its best quarterly profit since 2011, ahead of a key shareholder meeting where it will seek to rally support to fend off advances from Italy's UniCredit. UniCredit has since last year built up a hefty stake in its German peer, fueling talk that it is seeking a full takeover, a prospect that is fiercely opposed in Berlin. Commerzbank's net profit in the January to March period rose 12 percent to 834 million euros ($936 million) -- a surprise increase after analysts forecast a slight fall.