The second largest lender Commerzbank from Germany to reduce 3,900 jobs because it reveals new goals

The second largest lender Commerzbank in Germany announced on Thursday that it will eliminate 3,900 full -time functions by 2028, largely in its native Germany, because it revealed a wave of new strategic goals.

The job reductions will be accompanied by an increase in staff in “selected areas”, as in international locations, resulting in a broad constant worldwide workforce of 36,700, the bank said in its strategic update.

In 2025, the lender expects around 700 million euros ($ 730.7 million) of the restructuring costs before taxes, aimed at a net result of 2.4 billion euros after these costs for the year. The plant a payment ratio of more than 100% during the period 2025-2028, after the deduction of restructuring costs and extra tier 1 (on 1) bond vouchers.

Sales in 2024 amounted to 11.1 billion euros, compared to 10.461 billion euros in 2023.

Commerzbank had announced its “record” annual performance two weeks before the planned release of his financial results, in an attempt to fall into step with German legal requirements when the capital efficiency of a company considerably exceeds the expectations of capital markets.

At that time it said that net profit was increased by 20% to a forecast of 2.68 billion euros ($ 2.78 billion) in 2024, where plans were described to reduce 400 million euros in shares and its dividend payment To increase to 0.65 euros per share, compared to 0.35 euros per share in the previous year.

Commerzbank argues for the case to be alone since the surprise structure of a ring last year by Unicredit Foured Market Talk that the second largest lender of Italy could be hunting for a cross -border takeover. Unicredit currently has a direct interest of 9.5% and an interest of 18.5% through derivatives in Commerzbank.

The German government has opposed the prospect of such a cross-border consolidation, in which Minister of Finance Jörg Kukies closes the “very aggressive, very opaque” offer of Unicredit in a CNBC interview in January.

Divided between the German Overture and a takeover bid for the Italian lender Banco BPMUnicredit CEO Andrea Orcel has kept his cards close to the chest about the final intentions of his company with regard to Commerzbank.

Speaking with CNBC this week after Unicredit had reported a profit in the fourth quarter and had led a delay in 2025 income, Orcel emphasized that Commerzbank remains an investment that he 'is quite optimistic to convince everyone, not just on the The field of how we have received this investment, but also that a combination between the two banks has enormous value, not only for the two banks and the stakeholders, but also for Germany and for Europe. “

This breaking news story is updated.