Commerzbank posts record profit as talks with UniCredit intensify
Commerzbank reported a net profit of €1.8 billion for the first half of 2026, a 40 % increase year‑on‑year, and a quarterly profit of €898 million, almost double the previous year’s figure. The bank’s earnings per share rose to €0.75 and its return on equity reached 12.6 %. CEO Bettina Orlopp said the bank is ready for “constructive dialogue” with its largest shareholder, Italy’s UniCredit, which now controls roughly 48 % of Commerzbank’s shares. While UniCredit seeks to complete a takeover, Orlopp stressed that even a majority stake would not allow UniCredit to decide on major structural measures without a common understanding of the business model and the involvement of other stakeholders. The German government, holding about 12 % of the bank, is also part of the negotiations. To reinforce its independence, Commerzbank announced a share‑buyback programme of up to €1.2 billion and reaffirmed its target of at least €3.4 billion profit for the full 2026 year.
Entities: Andrea Orcel · Bettina Orlopp · Commerzbank AG · Dr. Astrid Fontaine · German government · German government (Bund) · German workforce · Germany · Group Works Council · Klaus Rosenfeld · Schaeffler AG · UniCredit S.p.A.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 6 SOURCES] Implementation will incur a one‑off expense of approximately €51 million, recorded as a special item in 2026. (Schaeffler)
- [● 6 SOURCES] The initiative aims to lower cost structures at German locations and improve Schaeffler's competitiveness. (Schaeffler)
- [● 6 SOURCES] The financial impact will start to generate savings from 2027. (Schaeffler)
- [● 6 SOURCES] The offer targets employees born up to and including 1971, about 1,300 workers (roughly 20% of the relevant cohort). (Schaeffler)
- [● 2 SOURCES] Schaeffler had previously announced a reduction of 4,700 jobs in Europe in November 2024, and the new measures augment that program.
- [● 3 SOURCES] The expansion responds to high employee interest in partial‑retirement contracts.
- [● 6 SOURCES] Schaeffler AG decided to expand its partial‑retirement (Altersteilzeit) offer in Germany. (Schaeffler)
- [● 6 SOURCES] Partial‑retirement models vary from two to eight years, combining active and passive work phases. (Schaeffler)
- [● 6 SOURCES] The expansion follows a November 2024 plan that announced a cut of 4,700 jobs across Europe. (Schaeffler)
- [● 6 SOURCES] The expanded partial‑retirement offer was agreed with the Group Works Council. (Schaeffler)
- [● 9 SOURCES] Commerzbank quarterly profit for Q2 2026 was €898 million, almost double the same period a year earlier. (Commerzbank)
- [● 3 SOURCES] The German government (Bund) holds about 12 % of Commerzbank and is involved in the negotiations. (German government)