Commerzbank posts surprise profit increase as it fends off UniCredit
FRANKFURT, May 9 (Reuters) - Germany's Commerzbank (CBKG.DE), opens new tab, fending off a possible takeover by Italy's UniCredit (CRDI.MI), opens new tab, said on Friday that net profit rose nearly 12% in the first quarter, defying expectations for a drop.
Net profit of 834 million euros ($936 million) in the quarter compares with a profit of 747 million euros a year earlier. Analysts had on average expected profit of 698 million euros, according to a consensus forecast published by Commerzbank.
($1 = 0.8908 euros)
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