Orlopp (Commerzbank): 'Merger with Unicredit risks loss of customers and fewer loans'. Gentiloni: "Stronger banks are needed in the EU".
If Commerzbank were to be taken over by the Italian banking group, the CEO also said, medium-sized German companies would risk receiving fewer loans
1' min read
1' min read
'Acquisition of Unicredit? Our rating would deteriorate, probably also significantly: we would lose customers who have certain rating requirements and who only do business with banks with good ratings'. This was said by Commerzbank's CEO, Bettina Orlopp, in an interview with the German daily Handelsblatt. If Commerzbank were to be taken over by the Italian banking group, Orlopp continued, medium-sized German companies would also risk receiving fewer loans. "When it comes to corporate clients, there is a lot of overlap between us and the German branch of Unicredit Hvb. In case of a merger, the credit exposures of some companies would have to be reduced to avoid cluster risks,' he concluded.
"Speaking in general, of course we need stronger banks, especially in Europe, where the role of banks in financing the real economy is much stronger than in the United States, and we do not have a European bank among the top 10 or 20 global banks". On the other hand, arriving at the Eurogroup, EU Economy Commissioner Paolo Gentiloni expressed himself by explaining that he did not want to talk about Commerz-Unicredit: 'We stress the need for the markets to take responsibility for opportunities and decisions, so I think talking about it would be counterproductive'.
