Supervisory board chairman of Commerzbank Jens Weidmann addresses shareholders during the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp smiles prior to the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp is pictured prior to the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp walks on stage as she arrives for the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp walks on stage as she arrives for the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp steps on stage as she arrives for the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank CEO Bettina Orlopp (background, C) addresses shareholders as in foreground can be seen people wearing shirts that read "We own yellow" during the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Commerzbank board members pose for pictures prior to the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany: (L-R) CFO Carsten Schmitt, Chief Operating officer Christiane Vorspel, Bernhard Spalt, CEO Bettina Orlopp, Sabine Mlnarsky, Thomas Schaufler and Michael Kotzbauer. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)