Our position on UniCredit’s offer

The acceptance period of UniCredit’s public takeover offer has ended. On 8 July 2026, UniCredit announced that a total of 17.6% of Commerzbank shares had been tendered by the end of the additional acceptance period on 3 July 2026. Based on information collected by Commerzbank regarding its shareholder structure, only 2.7% of our institutional and retail investors tendered their shares. The offer therefore received very little support from independent shareholders. We have published an overview of the current shareholder and tender structure here.

The transfer of the tendered shares and the associated voting rights to UniCredit remains subject to the required regulatory approvals. Once this has occurred, UniCredit will have access to just under 50% of the voting rights.

From Commerzbank’s perspective, a constructive dialogue remains the right approach to achieving sustainable value creation. This requires a shared understanding of Commerzbank’s business model and due consideration of the interests of all stakeholders.

With our “Momentum 2030” strategy, we are consistently pursuing growth and transformation and reliably creating value for our clients, employees and shareholders. This includes our attractive capital return policy. The 2025 financial year became a record year in Commerzbank’s 156-year history. We also delivered record results in the first half of 2026.

Tens of thousands of corporates and more than ten million people in Germany place their trust in Commerzbank and its staff. They want a bank as a financial partner that has their best interests at heart. That is why, in recent days, many experts have spoken out in favor of an independent Commerzbank.