Commerzbank Stock Climbs as Prosecutor Drops Inquiry and Visa Replaces Mastercard for Millions
Published on 07/11/2026 at 21:02 | Redaktion boerse-global.de
A legal cloud that takeover opponents had hoped would slow UniCredit’s advance has evaporated, while the bank simultaneously moves to replace Mastercard with Visa for millions of retail customers. The dual developments pushed Commerzbank shares to within striking distance of a record high on Friday.
The Frankfurt public prosecutor’s office announced on July 11 that it had found no evidence of market manipulation in UniCredit’s accumulation of Commerzbank stock, closing a probe that the works council had initiated in June. With no criminal case to pursue, the Italian lender’s path to control has cleared one of its most public obstacles. UniCredit is now estimated to hold between 45% and just under 50% of voting rights in the German institution.
Resistance from the top of Commerzbank itself, however, remains firmly in place. Chief executive Bettina Orlopp continues to oppose the tie-up publicly, backed by the federal government. Yet financial circles increasingly view the takeover as a formality, with analysts interpreting the combination as a pushback against “financial nationalism” in Europe. For context, the merged entity would still be dwarfed by JPMorgan Chase, which commands a market capitalisation of around $900 billion; Commerzbank alone is worth €41.56 billion.
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While the boardroom battle grinds on, the retail arm is undergoing a quieter overhaul. The bank has begun writing to millions of private customers to announce that its Mastercard Classic product is being phased out in favour of a Visa Classic. The migration, which will occur in stages, requires customer consent; if no response is received, the card will be cancelled at its expiry date. Those wishing to retain Mastercard must switch to a premium account costing €12.90 a month, compared with €4.90 for the standard digital giro account. The shift was telegraphed in February 2025, when Commerzbank and Visa announced a strategic partnership that replaced Mastercard as the preferred issuer for the retail segment. For customers, the practical differences are minimal, as both networks offer near-global acceptance and the bank determines fees and features regardless of the card brand.
The stock market reacted to the combined news flow with a 2.41% gain on Friday, closing at €38.67. That leaves the share just 0.46% below its 52-week high of €38.85, set on June 19. Over the past month the stock has risen 7.06%, and the year-to-date return now stands at 5.92%. The 12-month performance is 33.34% higher. Chart technicians note a relative strength index of 61.7 — comfortably below overbought territory — while the share trades 12.40% above its 200-day moving average of €34.40, underscoring the durability of the uptrend. The annualized 30-day volatility of 22.81% reflects the uncertainty that still surrounds the deal, even after the legal clearance.
The coming week is likely to be dominated by any official statements from UniCredit regarding its integration strategy. With the prosecutor’s decision stripping opponents of a key procedural weapon, the focus shifts back to how Orlopp and Berlin can sustain their opposition — and whether the card portfolio transition will have any material impact on customer retention or fee income when the next quarterly results are published.
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