The logo of German bank Commerzbank is seen on a branch near the Commerzbank tower in Frankfurt.
Daniel Roland | AFP | Getty Images
Germany’s second largest lender Commerzbank It announced Thursday that it will cancel 3,900 full-time positions in 2028, mainly in its indigenous Germany as it launches a series of new strategic goals.
In its strategic update, the bank said the cuts would be accompanied by an increase in staffing in “selected regions” such as international locations, resulting in a constant global 36,700 of 36,700.
The lender expects pre-tax restructuring costs to be approximately 700 million euros (US$730 million) in 2025, with a net result after these expenses for these years of 2.4 billion euros. It plans to pay more than 100% during the 2025-2028 period after deducting the restructuring cost and additional 1 (1) bond coupons.
Revenues in 2024 were 11.1 billion euros, compared with 10.461 billion euros in 2023.
Commerzbank has Disclosed its “record” annual performance Two weeks before the release of its financial results, when the company’s capital return significantly exceeded the expectations of the capital market, it was necessary to gradually meet German legal requirements.
At the time, it said that net profit rose 20% to €2.68 billion ($2.78 billion) in the 2024 forecast, outlining plans to repurchase €400 million and increasing its dividend expenditure to €0.65, By comparison, it was 035 euros, which was 0.65 euros per share of the previous year.
Unicredit Shares
Commerzbank has been advocating for its case since surprise establishment last year UNICREDIT Italy’s second-largest lender may be looking for a market talk to drive cross-border takeover. Unicredit currently holds a direct 9.5% stake in Commerzbank’s derivatives and 18.5% stake in it.
German government opposes the prospect of such cross-border mergers, Finance Minister Jörg Kukies slams Unicredit’s “Very radical, very opaque“Bid in a CNBC interview in January.
Separate between German Overview and Italian lender’s acquisition offer Bank BPMUnicreit CEO Andrea Orcel kept his chest caring about the company’s ultimate intention to Commerzbank.
Talk to CNBC this week UniCredit reports fourth-quarter profit beat Orcel guided a slowdown in revenue in 2025, and Orcel stressed that Commerzbank is still an investment — but he “can not only convince everyone, not only how we get this investment, but also think that the combination between him is It’s optimistic. The two banks are of great value not only for both banks and stakeholders, but also for Germany and Europe.”
This breaking news report is being updated.
