Commerzbank Q3 2025: Profit Misses Forecasts as Tax Bill Bites, But NII Outlook Rises and 9‑Month Operating Result Hits Record Amid UniCredit Pressure
FRANKFURT — November 7, 2025. Commerzbank’s third‑quarter headline profit came in weaker than expected, but the bank raised its 2025 net interest income (NII) guidance and posted a record operating result for the first nine months—underlining CEO Bettina Orlopp’s push to keep the lender independent as Italy’s UniCredit builds its stake. Reuters+1 What happened in Q3 2025 Commerzbank reported €591 million in net profit for the quarter ended Sept. 30, down 7.9% year on year and below a €659 million consensus, largely because the effective tax rate jumped to 36% from 22% a year earlier and operating costs rose around