.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" can be viewed on the Commerzbank Tower in the center of the banking urban area. Improved due to the turnaround in rate of interest, Commerzbank is actually going for an additional revenue boost after a record year. Image: Helmut Fricke/dpa (Picture by Helmut Fricke/picture collaboration via Getty Images) Photo Alliance|Image Collaboration|Getty ImagesTwo-thirds of the projects at Commerzbank might disappear if UniCredit efficiently carries out an unfavorable requisition of the German lender, a Commerzbank jurisdictional board participant cautioned on Tuesday.Stefan Wittmann, that is actually additionally an elderly authorities at German trade union Verdi, informed CNBC's Annette Weisbach that "our team absolutely wish our experts may avoid" a dangerous requisition by the Italian bank. Witmann claimed Commerzbank's panel had called the German government to accomplish an internal assessment of the possible requisition, which he really hopes are going to provide the banking company a six-month duration to analyze the scenario." However if it [a hostile requisition] is unavoidable, our company presume that two-thirds of tasks are going to disappear, that there will certainly be actually an additional considerable break in the divisions," he stated, according to an interpretation." Our experts will certainly view in particular that UniCredit does not yearn for all Commerzbank customers in all, but that it pays attention to the apparently absolute best consumers, specifically the wealthy clients," he added.Berlin, which was the most extensive shareholder of Commerzbank after it administered 18.2 billion euros ($ 20.2 billion) to rescue the financial institution during the 2008 monetary problems, is likely to play a key task in any type of prospective merging in between the banking companies." Our experts are really interested in our economical as well as commercial responsibility. Regarding the workforce is worried, which trade unions are actually of course particularly focused on, they will consistently lose in the merging, regardless of the time," Wittmann said. The bank possesses however to respond to an ask for discuss Wittmann's statements.UniCreditu00c2 announced Monday it hadu00c2 increased its own stake in the German lenderu00c2 to around 21% and also sent a request to enhance that holding to around 29.9%, indicating a takeover proposal could be in the cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, validating that one-half of the shareholding was actually obtained from the German government.UniCredit strongly believes significant market value could be uncovered within Commerzbank, Germany's second-largest finance company, but it pointed out that additional action is required for that market value to become "crystalized." German Chancellor Olaf Scholz criticized UniCredit's carry on Monday, pointing out, "unfriendly assaults, hostile takeovers are not a good idea for banks which is actually why the German federal government has actually accurately installed on its own here," News agency reported.' Incredibly tense'Commerzbank's supervisory board is because of meet today to explain UniCredit's stake, folks aware of the issue that asked to remain confidential earlier informed CNBC.Wittmann mentioned the state of mind is actually currently "very stressful" within the provider, adding that the bank was startled through UniCredit's announcement on Monday, which he described as a "180 degree-turn within 2 days."" [UniCredit Chief Executive Officer Andrea Orcel] last communicated on Friday that he desired a pleasant requisition in contract with all stakeholders and public servants. And the other day our experts were actually amazed by his dangerous requisition attempt. That does not build up," Wittmann said.The regulatory panel participant revealed that the 2 main causes to regard a prospective merger in a crucial light are the absence of a banking union in Europe, and also the fact that UniCredit has "absorbed on its own with Italian federal government connections lately." He examined what might happen should geopolitical strains or even "disruptions" influence UniCredit's supply of capital to pay for Commerzbank's industry.In feedback to the 2008 monetary problems, the European Commission announced plans to produce a financial union to enhance the law and also supervision of banks across the region.Commerzbank board member portends significant task losses along with an unfavorable UniCredit requisition Business analyst as well as previous International Reserve bank Governor Mario Draghi warned in a latest report that financial institutions in Europe face regulatory difficulties which "constrict their capability to offer," also pointing out the "insufficient" banking union as one element that influences competition for the area's banking companies." Our team have constantly spoken out, featuring as worker representatives on the Supervisory Panel, that there may as well as ought to be mergers at [a] European amount, however just when the banking union resides in area. Which is merely our second aspect of objection, that our team say: produce the rules of the video game and also the guardrails to begin with, and afterwards perform it sensibly when it is crystal clear which participating in field our experts perform," Wittmann claimed.