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International Business Times
International Business Times
Business

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

Commerzbank UniCredit Andrea Orcel Germany
Commerzbank's headquarters in Frankfurt (Credit: 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.

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