Italian major bank: Unicredit presents record profit – and wants to get started at Commerzbank in January
The major bank wants to take control of Commerzbank at the beginning of 2027. The planned merger with its German subsidiary is to happen faster than previously announced.
Unicredit has announced plans to integrate Commerzbank and potentially merge it with HypoVereinsbank. The Italian bank expects to gain control of Commerzbank in the first quarter of 2027 and start implementing its "Unlocked" strategy. Unicredit reported a record profit of 3.26 billion euros for the third quarter, a 24% increase, and raised its full-year profit forecast to "clearly above" 11.5 billion euros.
The bank's CEO, Andrea Orcel, aims to create "significant additional value" through a potential merger between Commerzbank and HypoVereinsbank, although previously stated it would happen after 2028.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
