An analysis published on November 4, 2026, says UniCredit’s planned acquisition of Germany’s Commerzbank could support substantial expansion. UniCredit has secured ECB approval and expects to own a controlling stake in Commerzbank within the year. The deal is expected to drive growth and improve operating efficiency.
UniCredit reported record results in the first half of the year. Management’s long-term guidance forecasts net profit of more than €11 billion in 2024. It projects net profit to exceed €15 billion by 2030.
The analysis says the profit outlook, together with expected Commerzbank deal synergies, supports the view that UniCredit shares are undervalued.