The recent increase in UniCredit’s stake in Commerzbank to 20 percent appears to be having no immediate impact on the German lender’s strategic approach. According to Carsten Schmitt, Commerzbank’s Chief Financial Officer, the move was not coordinated and the bank’s current trajectory remains unchanged.
Speaking to the “Frankfurter Allgemeine Zeitung”, Schmitt emphasized that the increased shareholding does not affect the bank’s strategic direction or ambitions. He stated, “There is nothing concrete for us to evaluate or defend. We continue as before, delivering on our promises and we are very successful in doing so.
UniCredit announced the increase in ownership last week, bringing its total stake, including other financial instruments, to approximately 29 percent of Commerzbank. Should UniCredit exceed the 30 percent threshold, a mandatory takeover offer would be triggered.
Commerzbank’s management team is committed to preserving the bank’s independence. This stance is reportedly shared by the German government, which has expressed reservations regarding UniCredit’s plans. Schmitt noted that the consistent and unified position of stakeholders reinforces the bank’s confidence in its current strategy.