Commerzbank, Germany’s second‑largest lender, said Friday it will expand its investment in artificial intelligence and cut as many as 3,000 jobs as part of its ongoing restructuring.
The bank said in a statement on its first‑quarter results that AI is expected to “free up and partially redeploy around 10 percent” of its workforce capacity, calling the technology an “important driver for efficiency and growth.” It plans to invest about 600 million euros (708 million dollars) in AI between 2026 and 2030.
Commerzbank said AI tools already in use are improving productivity and service quality and will “significantly reduce labor‑intensive tasks.”
The restructuring includes a group‑wide reduction of 3,000 positions.
The bank reported strong first‑quarter results, with operating profit rising 11 percent year‑on‑year to 1.4 billion euros (1.65 billion dollars). Net profit increased 9 percent to 913 million euros (1.08 billion dollars).