There is a rapprochement between Commerzbank and Unicredit although the Board of the German bank this morning wanted to reiterate its opinion “independence”, despite the purchase of a share close to 30% by the Piazza Gae Aulenti bank. Commerzbank’s number one, Bettina Orlopp, participating in the CEO Conference of Bank of America, he announced that tomorrow he will see the leaders of Unicreditcausing the shares of the two banks to soar on the stock exchange.
Tomorrow the top management meeting
The designated CEO of Commerzbank, Bettina Orlopp, who currently also holds the previous position of CFO, takes the reins of the German bank at a very delicate moment in its history and announced that tomorrow he will hold a first round of talks with the leaders of the Italian institute.
“The events of the last few weeks have come as a surprise to usbut we have to manage them and we are capable of doing so,” said the manager, indicating that it is very clear what Commerzbank must do. Orlopp explained that there are currently “three things” to do:
- the implementation of strategy to 2027 “just updated”;
- a open attitude to evaluate all options on the table to create value for shareholders;
- the need for evaluate what to do beyond 2027 to “release even more value”.
A rally starts on the stock market
The announcement of the meeting tomorrow between the top management of the two banks triggered a rally on the stock market: the shares Commerzbank on the Frankfurt Stock Exchange they reached 16.1 euros, being rewarded with a increase of 5.37%. Also Unicredit took off on Piazza Affari, reaching 39.55 euros, with a increase of 4.42%.
The strategy still focuses on the stand-alone solution
The Supervisory Board of Commerzbank has its support was “unanimously confirmed”. to the Strategy to 2027which focuses on profitable growth, rigorous cost discipline and customer orientation. The implementation of the Strategy – he underlined – is “proceeding quickly and on schedule” but a further improvement in profitability is expected in the coming years.
The management predicts that the bank will increase its Return on Tangible Equity (RoTE) to over 12% by 2027, better than previously planned, and a increase in profit above 3 billion euros in 2027 and aims for distribution ratios above 90% for the years 2025 to 2027.
“We are very satisfied the implementation and continued further development of our strategy until 2027,” the President said Jens Weidmannadvocating the independence of the bank and its role as “pillar” in the German banking market. “As the ‘Bank for Germany’ – he reiterated – we firmly believe that it has considerable potential for growth and appreciation”.
