.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" can be viewed on the Commerzbank Tower in the facility of the banking urban area. Enhanced by the turnaround in interest rates, Commerzbank is actually pursuing one more revenue increase after a record year. Image: Helmut Fricke/dpa (Picture by Helmut Fricke/picture alliance using Getty Images) Image Alliance|Picture Partnership|Getty ImagesTwo-thirds of the work at Commerzbank can fade away if UniCredit effectively carries out a hostile requisition of the German financial institution, a Commerzbank regulatory panel participant advised on Tuesday.Stefan Wittmann, who is additionally a senior representative at German business association Verdi, told CNBC's Annette Weisbach that "our company definitely wish we can easily steer clear of" an unfavorable requisition by the Italian banking company. Witmann pointed out Commerzbank's board had actually called the German government to perform an inner testimonial of the achievable requisition, which he wishes will definitely provide the financial institution a six-month time period to take stock of the situation." Yet if it [an aggressive requisition] is actually inescapable, our team presume that two-thirds of jobs will vanish, that there will definitely be actually another considerable cut in the divisions," he claimed, according to an interpretation." Our experts will find in particular that UniCredit does not yearn for all Commerzbank clients at all, but that it concentrates on the supposedly absolute best customers, specifically the well-off customers," he added.Berlin, which was the most extensive investor of Commerzbank after it injected 18.2 billion europeans ($ 20.2 billion) to save the finance company in the course of the 2008 economic situation, is likely to play a vital job in any potential merger in between the banking companies." Our company are actually interested in our financial and also industrial accountability. As far as the workforce is worried, which trade associations are certainly particularly concentrated on, they would always lose in the merger, no matter the moment," Wittmann said. The bank has however to reply to an ask for discuss Wittmann's statements.UniCreditu00c2 declared Monday it hadu00c2 boosted its own risk in the German lenderu00c2 to around 21% and also submitted a demand to boost that pursuing as much as 29.9%, signaling a takeover quote might be in the cards. Previously this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, validating that fifty percent of this shareholding was acquired coming from the German government.UniCredit strongly believes substantial value may be unlocked within Commerzbank, Germany's second-largest finance company, yet it said that additional action is actually needed for that value to become "crystalized." German Chancellor Olaf Scholz criticized UniCredit's carry on Monday, claiming, "unfriendly assaults, dangerous requisitions are not a good idea for banks and that is actually why the German government has clearly placed itself in this direction," Wire service mentioned.' Extremely tense'Commerzbank's supervisory panel results from meet this week to review UniCredit's risk, individuals aware of the issue that asked to remain undisclosed earlier informed CNBC.Wittmann claimed the mood is currently "extremely strained" within the business, incorporating that the banking company was stunned by UniCredit's news on Monday, which he called a "180 degree-turn within 48 hours."" [UniCredit Chief Executive Officer Andrea Orcel] final communicated on Friday that he desired a pleasant takeover in deal with all stakeholders and political leaders. And also the other day our team were actually amazed through his hostile requisition try. That doesn't build up," Wittmann said.The supervisory board participant discussed that the two principal reasons to concern a prospective merger in a vital illumination are the absence of a banking union in Europe, and also the truth that UniCredit has "absorbed itself with Italian federal government bonds in recent years." He questioned what may take place must geopolitical stress or even "turmoils" influence UniCredit's schedule of capital to finance Commerzbank's industry.In action to the 2008 financial crisis, the European Payment announced plans to develop a financial union to improve the policy and oversight of banking companies across the region.Commerzbank panel member warns of substantial task reductions with an unfavorable UniCredit requisition Economist as well as former International Central Bank Guv Mario Draghi flagged in a latest record that banking companies in Europe skin governing obstacles which "constrict their capacity to give," additionally pointing out the "insufficient" financial union being one variable that affects competition for the region's financial institutions." Our company have actually always spoken out, including as staff member agents on the Supervisory Board, that there may and must be actually mergers at [a] International amount, but just when the financial union resides in place. And also is actually only our 2nd point of critical remarks, that our experts mention: create the regulations of the activity and the guardrails initially, and after that do it smartly when it is actually clear which playing industry our company are on," Wittmann mentioned.