RBC downgrades Commerzbank on rising execution risk from UniCredit plans

By EC Assets · Published 2 October 2026

RBC downgraded Commerzbank due to increasing execution risk. The downgrade follows plans related to UniCredit. UniCredit is reportedly preparing to take control of the German lender. Commerzbank's CEO Bettina Orlopp expects regulatory approvals for UniCredit's investment by the end of the year or early next year. UniCredit is moving in on Commerzbank. It intends to replace Commerzbank's top leadership and overhaul the German lender. This overhaul would occur once regulatory approvals are received. Commerzbank CEO Bettina Orlopp stated the company remains open to discussions with UniCredit. UniCredit seeks to build a controlling stake in its German rival. Ms. Orlopp also stated that Commerzbank's shareholders must expect a defense. This article is intended for informational purposes only. It does not constitute investment advice.