UniCredit S.p.A. announced on Friday that it has received European Central Bank (ECB) approval to increase its stake in Commerzbank to 29.9%. The authorization allows UniCredit to move closer to acquiring a direct stake, though converting its current 18.5% derivative-held shares requires further...
Commerzbank AG announced on Thursday that it intends to cut 3,900 full-time jobs by 2028, mainly in Germany, after it revealed a more ambitious financial strategy.The German lender said that job cuts will be accompanied by new hirings in "selected areas" in international locations resulting in the...
Commerzbank AG revealed on Thursday its total revenues in the fourth quarter of 2024 stood at €2.9 billion, surging 22.7% from the same period a year earlier.Operating profit for the trimester soared 83.7% year on year to €996 million and net interest income fell 2.1% to €2 billion. For the full...
Although some of the most anticipated global players have already released their fresh financial results, this week investors' attention will turn to some of the leading Asian companies. Namely, SoftBank is expected to unveil its report on Wednesday, followed by Sony, Nissan, and Honda on Thursday.In...
UniCredit increased its stake in Commerzbank to 28% on Wednesday, stating that "substantial value exists within Commerzbank that needs to be crystallized. "The Italian bank, which had recently raised its stake to 21%, announced that this move aligns with its ambition to increase its holding to...
Commerzbank AG announced on Thursday that its Supervisory Board named Carsten Schmitt as the new chief financial officer (CFO) to succeed Bettina Orlopp, who assumed the role of chief executive officer (CEO) of the German lender. "I am very much looking forward to working with Carsten again....
Commerzbank said on Wednesday its total revenues in the third quarter of 2024 stood at €2.7 billion, declining 1% from the same period a year earlier.Operating profit for the trimester plummeted 20.5% year on year to €886 million and net interest income fell 5.5% to €2 billion. For the first...
The shares of Commerzbank AG rose on Monday, reaching their highest value since August 2011.Earlier today, CEO Bettina Orlopp, who recently took the baton from Manfred Knof, said during her first interview as the head of the business with Handelsblatt that a potential takeover by UniCredit S.p.A...
Commerzbank and Unicredit will hold the first talks on Friday, the recently designated CEO, Berttina Orlopp, said at a conference in London on Thursday."We have a meeting tomorrow," Orlopp explained while adding that they are "open" and will evaluate everything "that is on the...
Commerzbank CEO Manfred Knof will step down on September 30, 2024, after agreeing with the bank's supervisory board to conclude his term, the bank said in a press release on Wednesday. Knof, 59, announced earlier this month that he would not seek a second term. The news comes after the...
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