.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" can be viewed on the Commerzbank Tower in the facility of the banking metropolitan area. Boosted due to the turnaround in rate of interest, Commerzbank is aiming for an additional revenue increase after a report year. Image: Helmut Fricke/dpa (Photo through Helmut Fricke/picture partnership via Getty Images) Photo Alliance|Image Alliance|Getty ImagesTwo-thirds of the projects at Commerzbank might fade away if UniCredit effectively performs an unfavorable requisition of the German creditor, a Commerzbank jurisdictional board participant advised on Tuesday.Stefan Wittmann, who is also an elderly representative at German field union Verdi, informed CNBC's Annette Weisbach that "our company absolutely wish our experts can avoid" an aggressive takeover by the Italian banking company. Witmann claimed Commerzbank's panel had gotten in touch with the German authorities to carry out an internal review of the achievable requisition, which he really hopes will provide the banking company a six-month time period to analyze the situation." Yet if it [an unfavorable takeover] is actually inevitable, our experts presume that two-thirds of projects will disappear, that there are going to be actually another substantial cut in the branches," he pointed out, according to an interpretation." We will certainly find specifically that UniCredit carries out certainly not wish all Commerzbank clients in all, however that it pays attention to the purportedly finest customers, particularly the affluent clients," he added.Berlin, which was the biggest investor of Commerzbank after it injected 18.2 billion euros ($ 20.2 billion) to rescue the loan provider during the course of the 2008 economic problems, is probably to play a crucial function in any potential merger in between the financial institutions." Our experts are really concerned with our financial and also commercial obligation. As far as the workforce is worried, which trade unions are actually obviously especially paid attention to, they would certainly always lose in the merging, despite the time," Wittmann mentioned. The financial institution possesses yet to respond to a request for comment on Wittmann's statements.UniCreditu00c2 revealed Monday it hadu00c2 improved its own concern in the German lenderu00c2 to around 21% and also sent an ask for to increase that pursuing around 29.9%, signifying a requisition offer may be in the cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, affirming that fifty percent of this particular shareholding was actually acquired from the German government.UniCredit feels substantial market value may be uncovered within Commerzbank, Germany's second-largest lending institution, but it stated that further action is actually needed for that worth to be "crystalized." German Chancellor Olaf Scholz criticized UniCredit's proceed Monday, pointing out, "hostile assaults, aggressive takeovers are actually certainly not a good idea for banks and also is why the German government has actually precisely placed itself here," Wire service disclosed.' Really tense'Commerzbank's regulatory panel is due to meet recently to talk about UniCredit's risk, people familiar with the matter that inquired to stay anonymous formerly informed CNBC.Wittmann said the mood is actually presently "incredibly stressful" within the business, incorporating that the banking company was actually surprised by UniCredit's statement on Monday, which he called a "180 degree-turn within 48 hours."" [UniCredit CEO Andrea Orcel] last talked on Friday that he really wanted a welcoming takeover in agreement with all stakeholders and also politicians. As well as yesterday our experts were actually amazed by his aggressive takeover effort. That does not add up," Wittmann said.The regulatory panel member clarified that the two main causes to relate to a possible merger in a crucial lighting are actually the lack of a banking union in Europe, and also the reality that UniCredit has "absorbed itself along with Italian authorities relationships in the last few years." He questioned what may occur must geopolitical stress or "turmoils" effect UniCredit's supply of principal city to pay for Commerzbank's industry.In reaction to the 2008 financial crisis, the European Payment announced programs to create a banking union to boost the law and also supervision of banking companies throughout the region.Commerzbank panel member portends substantial project reductions with a dangerous UniCredit takeover Financial expert and also previous European Central Bank Guv Mario Draghi flagged in a recent report that banking companies in Europe skin regulative difficulties which "constrain their ability to give," likewise mentioning the "incomplete" financial union being one factor that influences competitiveness for the location's financial institutions." Our company have actually regularly spoken up, featuring as worker representatives on the Supervisory Panel, that there can as well as should be mergings at [a] European level, but just when the banking union resides in spot. Which is actually simply our second point of criticism, that our experts mention: develop the guidelines of the video game and the guardrails first, and after that perform it sensibly when it is clear which participating in field our company are on," Wittmann said.