UniCredit S.p.A.

UCG

IT0005239360

Banks

Real-time Borsa Italiana Other stock markets 04:36:47 2025-01-21 am EST			5-day change	1st Jan Change
42.88 ^EUR	-0.54%		+4.74%	+11.28%

02:32am	Markets bearish; focus on Generali	AN
01:26am	Anima, ECB spotlight on Banco BPM takeover bid	AN

UniCredit shakes up Commerzbank on efficiency

January 21, 2025 at 01:14 am EST

(Alliance News) - Commerzbank AG is targeting job cuts to improve profitability and counter a possible takeover bid by UniCredit Spa.

As Milano Finanza writes Tuesday, in Frankfurt, the CEO, Bettina Orlopp, is preparing a strategic review that will be presented on Feb. 13 and will include the elimination of several thousand jobs to reduce the cost/income ratio, currently at 59 percent, well above European competitors such as UniCredit - 39.7 percent - or Intesa Sanpaolo Spa, at 45.1 percent.

The German bank has already taken defensive measures, such as two buybacks of more than EUR1 billion and an increase in shareholder remuneration. In the background, the possibility of a merger with Deutsche Bank AG, supported by Morgan Stanley, remains.

The German government strongly opposes UniCredit's takeover, criticizing its approach as "opaque" and reiterating that hostile takeover bids are not the way forward for systemic banks.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
UNICREDIT S.P.A.	42.88EUR	-0.56%	+4.74%	69.06B
DEUTSCHE BANK AG	18.80EUR	-0.01%	+6.69%	38.02B
COMMERZBANK AG	17.82EUR	-1.53%	+4.04%	22.29B
INTESA SANPAOLO S.P.A.	4.148EUR	-0.46%	+1.89%	77.07B

Latest news about UniCredit S.p.A.

Markets bearish; focus on Generali	02:32am	AN
Anima, ECB spotlight on Banco BPM takeover bid	01:26am	AN
UniCredit shakes up Commerzbank on efficiency	01:14am	AN
Banco BPM says ECB, EBA both reviewing use of 'Danish Compromise' in Anima bid	Jan. 20	RE
Fitch Keeps Banco BPM's Ratings on Rating Watch Positive	Jan. 20	MT
Milan black jersey on Trump day	Jan. 20	AN
Supervisors assess EU banks' crisis preparedness	Jan. 20	DP
German finance minister criticises UniCredit approach for Commerzbank as opaque	Jan. 20	RE
Milan bearish; Leonardo at annual high	Jan. 20	AN
'FT': Commerzbank considers cutting thousands of jobs - share price at Dax peak	Jan. 20	DP
Mib bearish; MPS and UniCredit in the dust.	Jan. 20	AN
Report on job cuts drives Commerzbank	Jan. 20	DP
UniCredit's platform for small and medium-sized enterprises	Jan. 19	AN
'Financial Times': Commerzbank considers cutting thousands of jobs	Jan. 19	DP
Commerzbank explores thousands of job cuts after approach from UniCredit, FT reports	Jan. 18	RE
German Stocks Rise Amid China GDP Cheer	Jan. 17	MT
Orcel: "UniCredit will surprise again with its results."	Jan. 17	AN
S&P, Italian banks' interest margin to fall in 2025	Jan. 17	AN
Barclays moves on Commerzbank, 16% taken over	Jan. 17	AN
Global markets live: Boeing, Pfizer, Nvidia, Goldman Sachs, Shell...	Jan. 15
Government not aiming to expand 'golden power' powers in financial sector - Giorgetti	Jan. 15	RE
Italy has no plans to strengthen "golden powers" rules on financial sector	Jan. 15	RE
Barclays: has access to over 16 percent of Commerzbank	Jan. 15	RE
AlphaValue/Baader Europe: Failed Banco BPM Bid Could Spoil UniCredit's Regional Expansion Plans	Jan. 15	MT
UniCredit: EU approves acquisition of UniCredit CNP Vita	Jan. 15	CF

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Company Profile

UniCredit S.p.A. is one of the leading European banking groups. Income breaks down by activity as follows: - corporate, investment, finance and market banking (51%): leasing, factoring, stock transactions, participation in the rate, exchange, stock and derivative markets, stock exchange intermediation, etc.; - retail banking (49%). At the end of 2023, the group managed EUR 474.4 billion in deposits and EUR 409.5 billion in loans. Products and services are marketed through a network of 3,082 branches located primarily in Italy (1,950). Income (including intragroup) is distributed geographically as follows: Italy (44.7%), Germany (22.3%), Central Europe (17.5%), Eastern Europe (10.7%) and Russia (4.8%).

Employees

70,752

Sector

Banks

Calendar

2025-02-11 - Q4 2024 Earnings Release

More about the company