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UniCredit lifts profit guidance, leaving Banco BPM bid behind

The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Emanuele Cremaschi | Getty Images News | Getty Images UniCredit on Wednesday posted a sharp second-quarter profit hike and lifted its full-year guidance, a day after withdrawing its takeover bid for Italian peer Banco BPM amid opposition from Rome. … Read more

Italian court confirms UniCredit must exit Russia to complete BPM takeover

Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. An Italian court has confirmed that lender UniCredit must comply with a government demand to exit from Russia if it wishes to complete the takeover of rival Banco BPM, in a blow to chief executive … Read more

UniCredit CEO says Commerzbank now too expensive for takeover offer

Andrea Orcel, chief executive officer of Unicredit, in London, UK, on Thursday, Nov. 23, 2023.  Bloomberg | Bloomberg | Getty Images UniCredit CEO Andrea Orcel on Wednesday told CNBC that the share price of potential takeover target Commerzbank is currently too prohibitively expensive for a merger deal. UniCredit has built a surprise stake in Commerzbank … Read more

UniCredit earnings Q4 2024

The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Emanuele Cremaschi | Getty Images News | Getty Images Italy’s second-largest lender UniCredit on Tuesday posted a fourth-quarter profit beat, raising shareholder returns amid market focus on the bank’s M&A overtures. Net profit attributable to the group came in … Read more

Commerzbank touts record profit, launches buyback as it wards off UniCredit

A “mild recession” is on the cards, according to Commerzbank CEO Manfred Knof. Picture Alliance | Picture Alliance | Getty Images Commerzbank on Friday unexpectedly released quarterly results, touting “record” annual profit and announcing a new share buyback scheme. The bank said it achieved a 20% increase in net profit to 2.68 billion euros ($2.78 … Read more

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