Germany's Commerzbank said on Friday that it posted a 20% increase in net profit in 2024, announcing earnings nearly two weeks ahead of schedule as it fends off interest in a tie-up from Italy's UniCredit.

The behavior of the potential acquirer was very aggressive, very opaque, untransparent,” Germany’s Jörg Kukies told CNBC of UniCredit’s bid for Commerzbank.

Germany's Commerzbank said on Friday that it posted a 20% increase in net profit in 2024, announcing earnings nearly two weeks ahead of schedule as it fends off interest in a tie-up from Italy's UniCredit.

Germany's Commerzbank has demanded a formal written proposal amid a potential takeover by Italian bank UniCredit. "We have always signalled our willingness to talk and would examine a proposal from UniCredit in the interests of all stakeholders,

"The behavior of the potential acquirer was very aggressive, very opaque, untransparent," Germany's Jörg Kukies told CNBC of UniCredit's bid for Commerzbank. The move by UniCredit, which is ...

UniCredit SpA Chief Executive Officer Andrea Orcel said he was surprised by the backlash in Germany over his efforts to acquire Commerzbank AG, saying his bank was invited to bid and communicated with all sides.

Italy's UniCredit bank said on Tuesday it would not rush a possible takeover of German rival Commerzbank and was willing to walk away but would wait first for the German election's outcome.

German lender under pressure to cut costs and boost returns after unwanted approach from UniCredit. Read more at straitstimes.com.

BERLIN (Reuters) - Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.

Italian bank UniCredit — one of the last remaining Western banks still operating in Russia — has stopped outgoing euro transfers for individual clients, Russian outlet The Moscow Times wrote on Jan. 23.

With profits up 20% and a payout of 71%, the German institution is preparing to defend its independence and consolidate investor confidence. The new strategic plan will be presented on February 13

EQS-News: SNP Schneider-Neureither & Partner SE / Key word (s): Tender Offer SNP: Offer period for voluntary public tender offer from Carlyle begins 31.01.2025 / 15:35 CET/CEST The issuer is solely responsible for the content of this announcement.