Graphic: UniCredit and Commerzbank in five charts

Deutsche Pfandbriefbank AG

30/09/2024 12:28

By Tom Sims and Valentina Za
       FRANKFURT/MILAN, Sept 30 (Reuters) - UniCredit  CRDI.MI 
chief executive officer Andrea Orcel and  Commerzbank's
 CBKG.DE  designated chief Bettina Orlopp have held a first
round of talks as the Italian bank presses to explore a tie-up
and the German bank readies its defence.
    The following charts show how the two banks differ across an
array of measures and what any combined bank could look like:
    
    1. UNICREDIT VS. COMMERZBANK
    The Italian lender is more efficient and more profitable
than its German counterpart - with a market capitalisation that
is more than triple the value of Commerzbank.
    
    
    One area where Commerzbank is stronger: its credit rating.
UniCredit is weighed down by its home market exposure and
Italy's greater relative risk of default compared to that of
Germany. 
    
    2. DETAILED VIEW
    UniCredit's German operations comprise mainly HVB, the
Bavarian lender it acquired in 2005. HVB in the chart below
stands for UniCredit's German operations.
    
    
   
    
    3. UNICREDIT OUTPERFORMS
    Investors, lulled by UniCredit's profits and buybacks, have
sent the Italian bank's share price surging in the last two
years, with the Milan-based bank's stock outpacing gains at
European banks and its smaller German rival.
    
    
    4. COMMERZBANK SURGES
    The German bank's shares have soared nearly 30% since
UniCredit announced it was amassing a stake, pushing Commerzbank
to the highest since 2011.
    
    
    5. THE LONG VIEW
    Despite the recent gains, Commerzbank shares have had a
rough 15 years since the German state bailed it out during the
global financial crisis.
    
    
    

    
    
    

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
UniCredit outperforms    https://reut.rs/4gJ3jqY
Commerzbank shares surge    https://reut.rs/3Y3nOY9
Commerzbank shares, the long view    https://reut.rs/3ZIVOdm
What combined banks may look like    https://reut.rs/4eoTEnJ
UniCredit vs. Commerzbank    https://reut.rs/3ZFLvac
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Tom Sims, Editing by Louise Heavens)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))