Commerzbank Contemplates Acquisition in Defense Against UniCredit

Commerzbank AG (ETR:CBKG) is reportedly considering the acquisition of a mid-sized German bank as a strategic move to protect itself against a potential takeover by Italy's UniCredit. According to sources familiar with the matter, the evaluations at the German credit institution are still in the early stages, with Hamburg Commercial Bank (HCOB) and Oldenburgische Landesbank (OLB) being identified as possible targets.

It has been reported that the bank's management is discussing the issue, but it remains unclear whether Commerzbank has reached out to any of the potential targets. This move aligns with Commerzbank's broader strategy to maintain its independence, as the bank previously indicated a preference for pursuing an independent strategy without disclosing specific details.

In response to inquiries, Commerzbank acknowledged that it routinely evaluates inorganic growth opportunities, which refer to growth through mergers and acquisitions, as opposed to organic growth through existing operations. However, the bank refrained from commenting on any specific targets it may be considering.

Both OLB and HCOB declined to comment on the matter. The sources sharing this information requested anonymity due to the private nature of the discussions.

This potential acquisition strategy comes at a time when Commerzbank, and the German banking sector more broadly, is facing various challenges, including the need for consolidation to enhance efficiency and competitiveness.