.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" could be seen on the Commerzbank High rise in the center of the financial urban area. Enhanced by the turnaround in interest rates, Commerzbank is pursuing one more revenue rise after a file year. Image: Helmut Fricke/dpa (Photo by Helmut Fricke/picture collaboration via Getty Images) Picture Alliance|Image Alliance|Getty ImagesTwo-thirds of the tasks at Commerzbank could possibly vanish if UniCredit properly carries out a dangerous requisition of the German finance company, a Commerzbank supervisory board participant alerted on Tuesday.Stefan Wittmann, that is actually likewise an elderly official at German trade union Verdi, said to CNBC's Annette Weisbach that "our team absolutely hope our team can easily avoid" a dangerous requisition by the Italian financial institution. Witmann said Commerzbank's panel had gotten in touch with the German authorities to carry out an internal evaluation of the achievable takeover, which he really hopes will definitely offer the banking company a six-month time period to examine the scenario." But if it [an unfavorable requisition] is actually inescapable, our company assume that two-thirds of work will definitely vanish, that there are going to be actually an additional substantial cut in the branches," he claimed, according to an interpretation." Our company are going to view in particular that UniCredit does not yearn for all Commerzbank consumers at all, however that it focuses on the supposedly best customers, specifically the rich consumers," he added.Berlin, which was actually the biggest shareholder of Commerzbank after it infused 18.2 billion euros ($ 20.2 billion) to save the finance company throughout the 2008 economic crisis, is actually likely to participate in a crucial function in any type of possible merging between the financial institutions." Our team are really concerned with our financial and also industrial accountability. As far as the staff is worried, which trade unions are of course particularly paid attention to, they would certainly always lose out in the merging, regardless of the time," Wittmann said. The bank possesses however to respond to a request for talk about Wittmann's statements.UniCreditu00c2 introduced Monday it hadu00c2 increased its risk in the German lenderu00c2 to around 21% as well as submitted a request to boost that upholding as much as 29.9%, signaling a takeover quote might be in the cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, validating that one-half of this shareholding was acquired coming from the German government.UniCredit thinks significant value can be opened within Commerzbank, Germany's second-largest lender, yet it claimed that more activity is required for that value to become "crystalized." German Chancellor Olaf Scholz slammed UniCredit's proceed Monday, stating, "hostile strikes, aggressive requisitions are certainly not an advantage for financial institutions and that is why the German federal government has actually accurately placed itself in this direction," Wire service mentioned.' Extremely tense'Commerzbank's supervisory board is because of fulfill this week to review UniCredit's stake, people accustomed to the concern that asked to remain undisclosed previously informed CNBC.Wittmann said the mood is presently "really strained" within the business, adding that the financial institution was amazed by UniCredit's news on Monday, which he called a "180 degree-turn within two days."" [UniCredit CEO Andrea Orcel] last talked on Friday that he yearned for a friendly requisition in arrangement with all stakeholders and also public servants. As well as yesterday our team were surprised through his unfavorable takeover try. That does not accumulate," Wittmann said.The supervisory panel participant discussed that both primary reasons to relate to a potential merging in an essential illumination are the lack of a financial union in Europe, as well as the reality that UniCredit has actually "absorbed itself with Italian government bonds in the last few years." He examined what might take place ought to geopolitical tensions or even "turmoils" effect UniCredit's schedule of principal city to pay for Commerzbank's industry.In feedback to the 2008 financial situation, the European Compensation revealed plans to produce a banking union to boost the requirement as well as guidance of banking companies all over the region.Commerzbank board member portends significant task losses with an unfavorable UniCredit requisition Financial expert and also former International Reserve bank Guv Mario Draghi warned in a latest document that financial institutions in Europe skin regulatory hurdles which "constrict their capacity to lend," additionally mentioning the "unfinished" banking union as one factor that affects competition for the region's financial institutions." Our experts have always spoken out, including as employee reps on the Supervisory Board, that there can easily as well as need to be mergers at [a] European amount, yet only when the financial union resides in area. And also is actually simply our 2nd point of unfavorable judgment, that we say: develop the rules of the game as well as the guardrails first, and afterwards perform it properly when it is very clear which participating in area our company perform," Wittmann pointed out.