UniCredit raised its stake in German lender Commerzbank to about 48% and aims to take full control after securing regulatory approvals, which could arrive as early as the fourth quarter of 2026 [1, 2, 3]. The takeover values Commerzbank at approximately €43.6 billion at the time of the offer's acceptance [1].
Andrea Orcel, UniCredit's CEO, said the acquisition could occur potentially in the fourth quarter of 2026 or later. He stated, "That would mark the moment when we go in," referring to the timing of the acquisition [2, 3]. Orcel also noted the two banks remain "very different" and that several strategic alignments must take place before a full merger is finalized [2].
UniCredit plans to advance strategic changes at Commerzbank, including potentially reducing the German bank's international presence [1]. Meanwhile, the German government, which holds about 12% of Commerzbank, has softened its opposition and is preparing to enter talks with UniCredit [1].
Financially, UniCredit reported record results for the second quarter and first half of 2026, beating profit estimates and raising its full-year guidance [1, 2]. Despite a 13% decline in net profit to €2.9 billion in Q2, the bank lifted its 2026 net profit target to over €11 billion [2].
On July 23, 2026, Orcel announced both the intention to complete the Commerzbank acquisition potentially by Q4 2026 and the strong quarterly earnings [1, 2, 3].
UniCredit now awaits regulatory clearance to complete the takeover, with approvals possibly coming later this year or after.
