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Commerzbank Guidance Tops Target

Commerzbank said Thursday that it its first-quarter profit would be around 590 million euros ($805 million), boosted by investments and a rise in commission income.

The Frankfurt-based bank, Germany's second biggest behind Deutsche Bank, released the information ahead of its scheduled May 9 release of its complete first-quarter results.

The figure was better than the 450 million euros ($614 million) that analysts had predicted. In the first quarter of 2006, the bank earned 740 million euros.

The bank said that its operating profit, a yardstick used by analysts to measure a company's success, would likely be at least 880 million euros ($1.2 billion), more than the 700 million euros ($955 million) that analysts had predicted.

The exact figures will be released on May 9.