Overview

• Chancellor Friedrich Merz wrote to Commerzbank’s works council to reject an uncoordinated bid and back the bank’s autonomy.
• The federal government retains a 12 percent stake acquired during the 2008 rescue and highlighted Commerzbank’s systemic role in Mittelstand financing.
• Commerzbank posted a first-quarter net profit of €834 million, marking an 11.7 percent rise year-on-year.
• Commerzbank’s management and works council have united in resisting UniCredit’s bid, thanking officials for their support.
• UniCredit, which holds 28 percent of Commerzbank, signaled it could postpone its takeover decision until 2027.