Bettina Orlopp, the chairperson of Commerzbank, reiterated the bank’s independence. In a conversation with the “Frankfurter Allgemeine Sonntagszeitung”, she warned that the ongoing takeover battle with Italy’s Unicredit could have undesirable side effects. “Size alone is not a value” she said, adding that a merger would likely drive a growing number of corporate clients to seek new banking partners because concentrating too much business in one institution creates a cluster risk.
Orlopp further stressed that it must not become the case that customers eventually have to shift to large banks outside the EU-a development she said would be contrary to a competitive Germany and Europe. She observed that banks based outside the EU are increasingly trying to establish a stronger foothold in the German market.
When Andrea Orcel, Unicredit’s head, remarked that it was still too early to judge whether Orlopp was performing well, Orcel dismissed the comments. Speaking to the same magazine he said, “Everyone has their own style; I prefer the numbers to speak for themselves. When I look at them that way, I stay very calm, regardless of what Herr Orcel says”.