Commerzbank apparently reduces thousands of places – takeover threatens

Commerzbank could delete thousands of places in the defensive fight with the major Italian bank. A group spokeswoman did not want to comment on corresponding media reports and referred to the DAX group’s capital market day this Thursday.

Then Commerzbank wants to have a subsequent strategy for the coming years as well as details about the 2024 balance sheet. A few weeks ago there were reports that Commerzbank in the wrestling could dismantle jobs in the low thousand area. Most recently, there was talk of up to 4,000 jobs in unconfirmed media reports.

Commerzbank boss Bettina Orlopp tries to prevent a takeover by the UniCredit. Should help more ambitious medium -term goals. So far, the Board has been planning to drive the profit up to significantly more than three billion euros by 2027 and to increase the return. Commerzbank should make the new goals so attractive for shareholders that they do not want to sell their shares to Unicredit.

Orlopp was brought to the top of the bank in autumn after the UniCredit surprisingly got into Commerzbank with nine percent. In the meantime, the Italians have gained access to around 28 percent of Commerzbank shares through financial instruments. However, there is still no official permission to increase the direct stock participation.

Commerzbank surprisingly presented preliminary business figures at the end of January: the bottom line was that it earned around a fifth more than a year earlier with almost 2.7 billion euros. Now the dividend is to be increased from 35 to 65 cents per share.

Unicredit boss Andrea Orcel is relating to a new federal government in the surplus. “Commerzbank would take almost two years,” he told DPA-AFX and dpa news agencies on Tuesday. No offer will be presented before the fourth quarter of this or the first quarter of next year. He wants to wait until a new government is after the Bundestag election – and then he can talk to this about his plans.