Commerzbank, Germany's second-largest lender, reported its best Q1 results in over 10 years, with a 29% increase in net income to €747m.

Commerzbank, Germany's second-largest lender, reported its best quarterly results in over 10 years, with a net income of €747m ($808m) in the first quarter, up 29% from a year earlier. The bank's strong performance is attributed to higher interest rates, a brightening German economic outlook, and lower bank levies. Commerzbank raised its full-year forecast for net interest income to €8.1bn from €7.9bn previously.