UniCredit posts record quarterly profit as it launches Commerzbank bid
The all-share bid would lift UniCredit’s Commerzbank stake above 30% as the Italian lender raises its full-year profit target to at least 11 billion euros.
- On Tuesday, UniCredit launched its takeover offer for Commerzbank, coinciding with the bank reporting record quarterly net income of €3.22 billion.
- UniCredit CEO Andrea Orcel has pursued the German lender since September 2024, though the German government, which owns 12% of Commerzbank, strongly opposes the takeover.
- Net income rose 16% year-over-year, prompting the bank to upgrade its full-year profit outlook to at least €11 billion while confirming its 2028 targets.
- The all-share bid aims to lift UniCredit's holding above 30%, with the tender offer running for four weeks from Tuesday; subsequent purchases would then proceed without a new mandatory offer.
- Regulatory approval expected in the third quarter will provide a 56 basis-point boost to the CET1 ratio, offering capital headroom to absorb potential integration costs.
45 Articles
45 Articles
Profit at 3.2 billion, target revised upwards. Orcel on Commerz: "Weddings will be made"
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The Italian major bank Unicredit presents an official offer for the German Commerzbank. The Federal Government is watching.
UniCredit takes advantage of Commerzbank – but the deal stands and falls with the price. The answers to these questions show who wins, who loses and why everything now depends on the next numbers.
The takeover offer of the Italian bank Unicredit for Commerzbank is available. It is not particularly attractive for shareholders, and the small print also reveals some risks. But Unicredit head Orcel says he has a long breath.
The Italians provided good figures, but RBI's profit declined, and the bank levy is the reason for this.
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