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Germany's stake in Commerzbank dates back to the global financial crisis of 2008 and is still loss-making for the government

Commerzbank merger talk resurfaces in Germany

Five years after Deutsche Bank and Commerzbank aborted an attempt to merge, an uncertain outlook for bank profitability and Germany's need to plug a hole in its budget are rekindling speculation about a potential deal.

Business • 15 Jan 24

Unicredit is Italy's only bank deemed by supervisors to be of global systemic relevance

UniCredit tops forecast with 36% profit jump

Italy's UniCredit has today beaten third-quarter profit forecasts as higher rates boosted income, but kept its full-year profit goal, saying it needed time to decide how to best use this year's "exceptional" growth in earnings.

Business • 24 Oct 23

Andrea Orcel, the CEO of Unicredit, addressed the Bloomberg New Economy Gateway Europe event in Wicklow today

Recent bank events 'isolated incidents' - Unicredit CEO

The group chief executive of UniCredit has said that issues at certain lenders in recent months that led to wider concerns about the health of the banking system were isolated incidents.

Business • 19 Apr 23

UniCredit has spent years restructuring and beefing up its capital reserves

UniCredit gets ECB approval for €3.34 billion buyback

UniCredit has received supervisory approval to buy back its own shares for up to €3.34 billion, giving a boost to the stock price at a time of deep uncertainty for the banking sector.

Business • 29 Mar 23

UniCredit has about 14,000 employees in Germany

UniCredit to give staff in Germany €2,500 bonus - memo

Italy's second-largest lender UniCredit will give its staff in Germany a bonus of €2,500 to compensate for rising inflation, a copy of an internal memo seen by Reuters and confirmed by a spokesperson showed.

Business • 18 Nov 22

UniCredit runs Russia's 14th-largest lender, AO UniCredit Bank

UniCredit delays Q1 results to manage Russia exposure

Italian bank UniCredit has pushed back the publication of its first-quarter earnings to May 5, which would give it more time to manage its cross-border exposure to Russia.

Business • 11 Apr 22

Unicredit CEO Andrew Orcel said the economic environment had changed because of the Ukraine crisis

Italy's UniCredit says considering exiting Russia

UniCredit, Italy's second largest bank, is conducting an urgent review of its business in Russia and could decide to pull out of the country after the invasion of Ukraine, chief executive Andrea Orcel said today.

Business • 15 Mar 22

UniCredit flags up to €7.4 billion in losses on Russia

Italy's second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around €7.4 billion, leaving its capital distribution plans hanging by a thread.

Business • 09 Mar 22

Italian banker Andrea Orcel pictured at the court proceedings along with Santander chairman Ana Botin

Santander appeals against Andrea Orcel payout ruling

Santander has appealed against a Madrid court ruling ordering the Spanish lender to pay Italian banker Andrea Orcel €51.4m in compensation for a withdrawn offer to hire him as CEO three years ago, two sources familiar with the process said today.

Business • 16 Feb 22

UniCredit said 2021 revenues came in at €18 billion, ahead of its guidance for more than €16 billion

UniCredit beats 2021 guidance, renews deal with Allianz

Italian bank UniCredit has today posted better than expected 2021 results as the push by new chief executive Andrea Orcel to lift revenue began to bear fruit while costs remained in check despite rising pay and one-off charges.

Business • 28 Jan 22

Monte dei Paschi di Siena is 64% owned by the Italian state

Italy, UniCredit to extend Monte dei Paschi sales talks

UniCredit and Italy's Treasury are set to extend discussions over the sale of state-owned bank Monte dei Paschi di Siena beyond an exclusivity deadline, two people close to the matter said.

Business • 08 Sep 21

UniCredit Q1 profit tops forecasts on lower loan losses

Italy's second biggest bank UniCredit has today posted a much higher than expected first-quarter net profit thanks to higher revenues driven by fee and trading income and shrinking loan losses.

Business • 06 May 21

Italy has been struggling to attract buyers for Monte dei Paschi, which faces pending litigations after years of mismanagement

Italy PM expected to sign off on Monte dei Paschi deal

Italian Prime Minister Giuseppe Conte is expected to sign in the next few days long-awaited measures paving the way for a crucial bad loan clean-up at Monte dei Paschi and the sale of the bank, two government sources said.

Business • 16 Oct 20

Unicredit said it booked €1.26 billion in net loan writedowns in the first quarter

UniCredit posts bigger-than-expected €2.7 billion loss

Italy's biggest bank UniCredit has today posted a €2.7 billion loss in the first quarter after writing down loans in anticipation of the damage caused by the Covid-19 pandemic.

Business • 06 May 20

UniCredit said today it would shed 8,000 jobs to reduce its costs by €1 billion

UniCredit lifts shareholder returns, to cut 8,000 staff

Italy's biggest bank UniCredit said today it would shed 8,000 jobs to reduce costs by €1 billion in Western Europe under a new plan to 2023, while improving returns for shareholders.

Business • 03 Dec 19

UniCredit has long been interested in expanding in Germany

UniCredit puts possible Commerzbank bid on ice: sources

Italy's UniCredit has put a possible bid for Commerzbank on ice as the German rival does not want to engage in negotiations so soon after the collapse of merger talks with Deutsche Bank, four sources said.

Business • 25 Jun 19

Italy's competition authority fined the banks and brokers a total of €15m in 2017 for selling the diamonds at inflated prices

Banks face new challenges in Italian diamond scandal

A long-running criminal probe into diamond sales by Italian banks has uncovered what prosecutors say is further evidence of corruption by officials at UniCredit, Italy's largest lender, and smaller rival Banco BPM.

Business • 17 Jun 19

UniCredit steps up preparations for a potential bid for Germany's Commerzbank, sources say

UniCredit advances towards bid for Commerzbank - source

UniCredit has stepped up preparations for a potential bid for Germany's Commerzbank by drafting in investment bankers including a former top German official, three people familiar with the matter said.

Business • 15 May 19

Reports says that Italy's UniCredit wants to take control of Commerzbank

Unicredit a spoiler in Deutsche-Commerzbank deal?

Deutsche Bank came under increased pressure today to move forward with a tie-up with Commerzbank after a report that Italy's Unicredit is preparing a rival bid for the German lender.

Business • 04 Apr 19

UniCredit reported a net profit of €1.1 billion in the three months from January to March

UniCredit posts best Q1 results since 2007

Italy's biggest bank, UniCredit, today topped forecasts with its best first-quarter result since 2007 and said it would shed bad loans more quickly than anticipated.

Business • 10 May 18

Unicredit's net profit came in at €801m, compared with analysts' average forecast of €523m

UniCredit's quarterly net profit tops forecast

Italy's biggest bank UniCredit today reported its highest fourth-quarter profit in a decade, topping forecasts thanks to a robust increase in fee and interest income.

Business • 08 Feb 18

Professor Philip Lane at the Oireachtas Finance Committee

Central Bank defends handling of Sugarman complaints

Professor Philip Lane has defended the Central Bank's handling of complaints made by UniCredit whistleblower Jonathan Sugarman.

Business • 18 Jan 18

The bank's total quarterly revenues of €4.8 billion topped expectations

Unicredit beats forecast with Q1 net profit of €907m

Unicredit, Italy's biggest bank by assets, has today posted a first-quarter net profit of €907m.

Business • 11 May 17

Jonathan Sugarman, who was risk manager in UniCredit, has claimed that prompt action in 2007 might have avoided the need for a blanket guarantee and bailout of the Irish banks

Whistleblower Sugarman appears before finance committee

The Oireachtas finance committee is to ask the Central Bank to supply it with documents relating to the case of Jonathan Sugarman, a banker who warned of liquidity breaches at his bank, UniCredit Bank Ireland, in 2007.

Business • 13 Apr 17

UniCredit agrees 3,900 lay-offs in Italy as part of its plan to cut 14,000 staff by 2019

UniCredit kicks off cash call to rebuild capital

UniCredit began Italy's biggest corporate share sale today in an attempt to raise €13 billion to rebuild the bank's capital after a balance sheet clean up.

Business • 06 Feb 17