Commerzbank

Commerzbank chief Bettina Orlopp will present the quarterly figures this week; observers see the meeting as possibly her final appearance in office. At the analyst conference she, unusually, gave no hint of a next meeting and said goodbye in a noncommittal way. The background is Unicredit’s aggressive takeover pitch, whose CEO Andrea Orcel wants to force the replacement of large parts of the supervisory board, putting political circles in an awkward position. » Mere på sueddeutsche.de

Commerzbank increased group net income in the third quarter by 45 percent to €859 million, but thus fell slightly short of analysts' expectations of €864 million. Revenues were €3.2 billion and the bank confirmed its full-year target of at least €3.4 billion in profit and around €13.2 billion in revenues. At the same time, the bank cut its net interest income forecast from €8.6 billion to €8.5 billion due to intensified competition for deposits; the firm is concerned about staff resignations and customer churn ahead of the takeover by Unicredit. » Mere på handelsblatt.com

Commerzbank reports a group net result of €859m in the third quarter, 45.3% higher than a year earlier and almost in line with analyst consensus. The drivers were securities and fee businesses, while net interest income lagged expectations and other income weighed on results. The bank slightly lowers its net interest forecast for 2026 from around €8.6bn to around €8.5bn, but confirms its profit target of at least €3.4bn; buybacks of up to €1.2bn are about 70% completed. » Mere på deraktionaer.de

Union Investment, Deka and DWS have sharply reduced their Commerzbank holdings after Unicredit pushed ahead with the takeover. Unicredit plans a major restructuring including 7,000 job cuts, €2.2bn of investment and €500m of additional risk provisions, which is likely to reduce distributions. Analysts have downgraded the stock and warn of uncertainty for employees, corporate clients and a possible exit from the Dax. Investors fear dilution of the investment case for minority shareholders and legal disputes. » Mere på handelsblatt.com

UniCredit has secured just under half of Commerzbank’s shares and, after ECB approval for taking control, announced it will expand support for corporate clients and build on the networks of HVB and Commerzbank. CEO Andrea Orcel pledged to give German Mittelstand companies access to additional markets and international expertise, while UniCredit plans billions in savings, the elimination of thousands of jobs and cuts to its international network. The federal government demands Commerzbank play a strong role in financing mid-sized firms. Commerzbank shares fell slightly. » Mere på finanzen.net