Zwischenbilanz: Commerzbank macht Gewinnsprung im zweiten Quartal

Commerzbank reported a significant profit surge in the second quarter, boosting its confidence for further discussions with its major shareholder Unicredit. CEO Bettina Orlopp expressed readiness for constructive talks with Unicredit, stating that a shared approach could create value. The bank now considers Unicredit a controlling shareholder, expecting all approvals for Unicredit's plans to be granted by the fourth quarter following regulator reviews.

Orlopp emphasized her responsibility as Commerzbank's CEO in maximizing the situation for all stakeholders, noting that not all shares are controlled by Unicredit, and both banks remain competitors. In April-June 2026, Commerzbank earned nearly double the profit it did a year earlier, reaching €898 million, after job cuts reduced profits previously.

The bank aims to hit its profit target of at least €3.4 billion for the year, with potential equity buybacks and higher earnings. Unicredit has now acquired nearly half of the shares in Commerzbank, with CEO Andrea Orcel expecting a takeover by the end of the quarter. Orlopp stressed that even with Unicredit's majority at the next shareholder meeting, crucial strategic decisions require a common understanding of the business model and stakeholder involvement.

The German government's remaining stake, stemming from the 2008/2009 financial crisis, also weighs in on the matter. Regarding the potential relocation of Unicredit's Frankfurt headquarters to Munich, where Unicredit's subsidiary Hypovereinsbank (HVB) is located, Orlopp stated that all potential criteria for the future site will be considered.

Unicredit's hostile takeover attempt has sparked resistance among Commerzbank management, the works council, and employees. The German government has also criticized the move. Unicredit acquired an additional 17.6% through a voluntary takeover offer, bringing its total to 44.37%, and could potentially reach 47.59% with further purchase options.