Commerzbank wants to dismantle 3900 jobs by 2028 – takeover threatens

Commerzbank boss Bettina Orlopp wants to arm the Frankfurter money house with cost cuts and the dismantling of thousands for the defense against UniCredit. A total of around 3,900 full -time positions are to be eliminated by 2028, as Commerzbank announced on Thursday.

There are around 3,300 jobs on Germany alone. Orlopp wants to further reduce the complexity of processes and set up the bank slimmer and more efficiently. Digitization is to be accelerated and international locations are increasingly used. There and also with the Polish daughter Mbank, a job structure should occur, so that the staff should remain largely constant at 36,700 full -time workers worldwide.

The major Italian bank Unicredit had entered Commerzbank in September and has now secured access to 28 percent of the shares over derivatives. Unicredit boss Andrea Orcel promotes a complete takeover of Commerzbank, but it insists on its independence and describes the procedure of the Milan Institute as hostile.

Commerzbank also set itself new financial goals: by the end of 2028 it wants to improve the cost-inclratio to around 50 (2024: 59) percent. The commission surplus is intended to increase by average by a good seven percent. The net result is expected to achieve 4.2 billion euros and the return on equity 15 percent. “Steadily growing yields, strict cost discipline and dynamic capital return are the basis for reliably increasing profitability of the bank,” said the designated CFO Carsten Schmitt.

The previous strategy program was sufficient until 2027 and was first published in 2023. It was only last September – after Unicredit opened her interest – Commerzbank tightened some of its financial goals and targeted a return on equity of 12.3 percent. Now Orlopp dares to do even more: The return on equity is expected to amount to 13.6 percent in 2027, and the cost-Ince ratio will improve to 53 (previously: 54) percent. The net result should now increase to 3.8 instead of 3.6 billion euros.

For comparison: the unicredit return on equity amounted to 17.7 percent in 2024 and is expected to continue to be over 17 percent by 2027. Until then, the net profit is expected to climb around ten billion euros of 9.3 billion last year.

Management had been working under Orlopp for months on a strategy that is supposed to illustrate the value potential of the Frankfurt money house. With the idea of ​​her plans, Orlopp wants to convince investors that Commerzbank can survive as an independent institute in the long term. The strategy adjustment follows a record result last year, which was already announced at the end of January. The shareholders will be courted with a higher dividend and a further share buyback.

Unicredit boss Orcel said when the publication of his annual balance sheet on Tuesday, the institute wanted to wait for discussions with the new federal government before further steps at Commerzbank -such as a takeover offer. This will extend over three to five quarters, depending on the development of the situation. “The decision whether and when we make an offer is completely with us,” Orcel had made it clear. “We would make an offer if we are ready – and not automatically in response to what we achieve in the negotiations with the government.”

Note: This text has been updated.