FRANKFURT (Reuters) -Germany's Commerzbank said on Friday that it posted a 20% increase in net profit in 2024, announcing earnings nearly two weeks ahead of schedule as it fends off interest in a tie-up from Italy's UniCredit.

Net profit rose to 2.68 billion euros ($2.78 billion) in the year, up from 2.22 billion euros in 2023, the bank said. That is above analyst expectations for profit of 2.47 billion euros, according to a consensus forecast.

Commerzbank said the profit was a record.

($1 = 0.9636 euros)