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Abstract:Commerzbank (CBKG.DE) of Germany said on Monday that it has satisfied major earnings requirements to join Germany's benchmark DAX index of blue-chip companies.
Commerzbank of Germany said on Monday that it has satisfied major earnings requirements to join Germany's benchmark DAX index of blue-chip companies.
Commerzbank, which is still partly controlled by the German government after a rescue more than a decade ago, was kicked from the DAX in 2018.
The bank said that its profits before interest, taxes, depreciation, and amortization (EBITDA) in 2022 were 3.371 billion euros ($3.66 billion), meeting the DAX's profit standards for the second year in a row.
Commerzbank Chief Financial Officer Bettina Orlopp said that the firm opted to release the statistic “in order for Deutsche Boerse Group to evaluate us as a succession contender” in the DAX.
The index's compiler, Deutsche Boerse, said earlier this month that Linde would be exiting the DAX and that a replacement will be announced on February 17.
On February 16, Commerzbank will release its full-year profits.
($1 = 0.9211 euros)
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