UniCredit plans to take control of Commerzbank in 2027 — Der Spiegel

Italian bank UniCredit plans to gain control of Germany’s Commerzbank in the first quarter of 2027 and then begin implementing its Unlocked strategy. Der Spiegel reports, citing UniCredit’s quarterly report.

Changes to the supervisory board

UniCredit expects to receive the remaining approvals to increase its stake in Commerzbank at the end of November. The bank then intends to convene an extraordinary general meeting of shareholders to elect new members of the supervisory board.

The Italian financial group has already secured a 49% stake in Commerzbank through a takeover bid. UniCredit believes that integration risks will be limited, as the bank has experience restructuring its German subsidiary HypoVereinsbank.

More current news is available on the UA.News Telegram channel Telegram.

Possible merger with HypoVereinsbank

The merger of Commerzbank with Munich-based HypoVereinsbank may take place earlier than previously expected. In a presentation, UniCredit said such a deal could create significant additional value. In April, UniCredit CEO Andrea Orcel said this step was possible after 2028.

If HypoVereinsbank is incorporated into Commerzbank’s structure, UniCredit’s stake in the Frankfurt-based bank could increase substantially. At the same time, Commerzbank shareholders may receive lower dividends in the near future, as the implementation of the new strategy may involve additional reserves, costs and investments. Previously, Commerzbank effectively distributed almost all of its profit among shareholders.

In the third quarter, UniCredit’s profit rose by 24% to €3.3 billion, exceeding analysts’ expectations. For the full year, the bank expects profit before special charges to be significantly higher than the previously forecast €11.5 billion.