Commerzbank CEO warns against UniCredit merger due to potential client losses and credit rating drop.

Commerzbank CEO Bettina Orlopp warned that merging with UniCredit could lead to client losses and a drop in credit ratings due to client overlap. Despite UniCredit's 9% stake and interest in a merger, discussions have not occurred, and the proposal faces resistance from German Chancellor Olaf Scholz and Commerzbank's management and employees. Orlopp expressed skepticism about the benefits of large bank mergers.

October 07, 2024
6 Articles