.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" may be found on the Commerzbank High rise in the center of the financial city. Boosted due to the turn-around in rates of interest, Commerzbank is pursuing another profit boost after a report year. Picture: Helmut Fricke/dpa (Photograph by Helmut Fricke/picture partnership through Getty Images) Image Alliance|Picture Alliance|Getty ImagesTwo-thirds of the jobs at Commerzbank can go away if UniCredit efficiently accomplishes an aggressive takeover of the German finance company, a Commerzbank ministerial panel member alerted on Tuesday.Stefan Wittmann, that is actually also a senior representative at German field alliance Verdi, informed CNBC's Annette Weisbach that "our experts undoubtedly hope our team can easily avoid" a dangerous requisition by the Italian bank. Witmann mentioned Commerzbank's board had called the German federal government to carry out an internal assessment of the achievable takeover, which he wishes will certainly give the bank a six-month time period to examine the situation." Yet if it [a dangerous requisition] is inescapable, our company think that two-thirds of jobs will disappear, that there will be actually one more significant cut in the divisions," he pointed out, depending on to an interpretation." Our company are going to find specifically that UniCredit carries out certainly not desire all Commerzbank customers in any way, but that it focuses on the purportedly best clients, particularly the well-off clients," he added.Berlin, which was actually the biggest investor of Commerzbank after it injected 18.2 billion europeans ($ 20.2 billion) to rescue the lender during the course of the 2008 economic situation, is very likely to play a crucial role in any type of potential merging between the banking companies." We are really interested in our financial and industrial accountability. Regarding the staff is actually concerned, which trade associations are obviously particularly focused on, they will always lose in the merger, no matter the moment," Wittmann mentioned. The banking company possesses yet to respond to a request for talk about Wittmann's statements.UniCreditu00c2 revealed Monday it hadu00c2 improved its stake in the German lenderu00c2 to around 21% and also submitted a request to enhance that pursuing approximately 29.9%, signaling a takeover bid could be in the memory cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, validating that half of this particular shareholding was actually obtained from the German government.UniCredit strongly believes sizable market value may be opened within Commerzbank, Germany's second-largest creditor, but it claimed that more activity is demanded for that value to become "crystalized." German Chancellor Olaf Scholz slammed UniCredit's go on Monday, saying, "antagonistic strikes, dangerous requisitions are not a benefit for banks and that is actually why the German federal government has actually accurately positioned itself here," Wire service disclosed.' Very tense'Commerzbank's supervisory panel is because of meet today to explain UniCredit's risk, people acquainted with the matter who asked to remain confidential earlier informed CNBC.Wittmann mentioned the mood is currently "really stressful" within the business, incorporating that the banking company was actually stunned through UniCredit's statement on Monday, which he described as a "180 degree-turn within two days."" [UniCredit CEO Andrea Orcel] last spoke on Friday that he wished a pleasant takeover in arrangement with all stakeholders as well as political leaders. And also last night our company were actually surprised through his dangerous requisition effort. That doesn't add up," Wittmann said.The ministerial board member explained that the 2 primary reasons to relate to a potential merger in a vital light are 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 could happen need to geopolitical stress or "turmoils" impact UniCredit's schedule of principal city to finance Commerzbank's industry.In reaction to the 2008 economic situation, the European Commission announced strategies to produce a banking union to improve the requirement and guidance of banks throughout the region.Commerzbank board member portends notable project reductions along with a dangerous UniCredit requisition Business analyst and previous European Central Bank Guv Mario Draghi flagged in a latest record that banks in Europe skin regulative obstacles which "constrict their capacity to lend," likewise mentioning the "incomplete" financial union as one factor that impacts competition for the region's banking companies." We have regularly spoken up, consisting of as staff member representatives on the Supervisory Panel, that there can easily and also ought to be actually mergings at [a] European degree, yet just when the financial union is in area. And also is actually simply our 2nd aspect of criticism, that our experts claim: create the guidelines of the activity as well as the guardrails to begin with, and then perform it prudently when it is actually very clear which playing area we are on," Wittmann said.