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Commerzbank Initiates Third Share Buyback Programme
Commerzbank AG has announced the initiation of its third share buyback programme, following approval from the German Finance Agency and the European Central Bank. This move aligns with the bank's commitment to returning at least 70% of its net result for the 2024 financial year to its shareholders.
The first tranche, valued at approximately €600 million, will commence post-publication of its third-quarter results and is anticipated to conclude by mid-February 2025. This buyback is a component of Commerzbank’s overall capital return strategy for 2024, which also includes dividend payments.
CEO Bettina Orlopp emphasized the significance of the strategy in generating long-term value for shareholders. Progress updates on the buyback will be provided weekly on Commerzbank's website.
R. E.
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