Germany’s Commerzbank is on track to achieve the record profits it is aiming for this year after seeing its best quarterly results since the start of 2011. “We have started the new year with a lot of momentum. The strong customer business and the very good result in the first quarter confirm our goal of increasing profits in 2024,” said chief executive Manfred Knof on Wednesday. The fact that interest rates are not falling as quickly as expected a few months ago plays into the hands of Commerzbank with its focus on small- and medium-sized entreprises (SMEs) and private customers. However, the …