Published on 15/09/2026 at 6:37 GMT+2
On Monday, Germany’s finance minister met with UniCredit’s chief executive to request assurances regarding the future of Commerzbank, as the Italian bank prepares to finalize its acquisition of its German counterpart.
German Finance Minister Lars Klingbeil emphasized that it is crucial for the federal government that Commerzbank continues to fulfill its essential role in financing the German economy, he said in a statement following the meeting.
He added that Commerzbank should remain a publicly listed company headquartered in Frankfurt and maintain its strong focus on financing small‑ and medium‑sized enterprises.
Despite strong opposition from Berlin and the German lender, UniCredit has accumulated a stake of nearly 50% in Commerzbank and is poised to finalize one of Europe’s largest banking mergers in recent years.
A German finance ministry spokesperson noted earlier that the two banks have entered a new phase of negotiations.
Klingbeil reiterated his commitment to safeguard Commerzbank’s interests and those of Germany throughout the talks in Berlin.
“Commerzbank employs more than 40,000 staff, and we are determined to protect their interests,” he told reporters at a press conference.
Banking behemoth
Berlin still believes it can exert influence over the deal through its representation on Commerzbank’s supervisory board and its roughly 12% stake, both remnants of a state bailout during the financial crisis.
However, its leverage is likely to be reduced given UniCredit’s sizable share.
UniCredit began increasing its holding in Commerzbank in 2024 to facilitate a takeover.
Commerzbank cut thousands of jobs and raised its financial targets to persuade shareholders to support its independence effort.
Those attempts were unsuccessful, and with UniCredit approaching a controlling stake, Commerzbank’s CEO Bettina Orlopp requested “constructive” discussions with the Italian bank in late July.
UniCredit aims to create a European banking powerhouse capable of competing with larger U.S. banks, arguing that consolidation would strengthen the region’s fragmented banking sector.
Although resistance remains in Germany, some officials in Brussels and at the European Central Bank have expressed support for a possible takeover.
