Commerzbank’s Raised Profit Outlook Fails to Sway Investors

Commerzbank AG’s improved outlook for this year failed to sway investors, underscoring the challenges for Chief Executive Officer Bettina Orlopp as she continues to defend the bank against a potential takeover.

Orlopp said on Wednesday that profit this year should exceed a prior guidance of €3.2 billion ($3.8 billion), with net interest income now expected at around €8.5 billion, up from €8.4 billion previously. Shares of Commerzbank fell as much as 5.1%, the most since November, as analysts already predicted a full-year profit of €3.4 billion before the new outlook.