Commerzbank nears ownership shift as UniCredit approaches majority stake

Commerzbank is navigating a period of significant strategic shifts involving both its capital management and its ownership structure. The bank has reported record operating and net results for the first half of 2026, driven by its ‘Momentum 2030’ strategy. While the European Central Bank has approved a new share buyback program, the bank is currently awaiting final authorization from the German Federal Finance Agency to proceed.

Simultaneously, the Italian banking group UniCredit is moving closer to a majority stake in the German lender. Following Commerzbank’s cancellation of treasury shares, UniCredit’s potential access to shares has increased to 49.65 percent, up from 47.59 percent. This includes purchase options that the Italian bank can exercise at any time.

Amidst these developments, speculation regarding the German government’s 12.7 percent stake in Commerzbank has surfaced. While reports suggested the government might consider selling its holdings, a government spokesperson declined to comment on the speculation, stating that bank executives should engage in direct dialogue.