Commerzbank CEO Bettina Orlopp called Thursday for a constructive dialogue with UniCredit after the Italian bank's tender offer left it close to majority ownership of its German rival. "Even when UniCredit holds a majority at the next annual general meeting, it cannot unilaterally decide on fundamental structural measures," Orlopp said. "This creates a clear responsibility for both sides. It requires a shared understanding of the business model and the involvement of all stakeholders."

Orlopp's comments came after UniCredit last month closed a tender offer for Commerzbank that left it near majority control, and its boss Andrea Orcel said he expected the German lender to adopt UniCredit's strategy from the beginning of next year.

Commerzbank also said it plans to launch a share buyback program of up to 1.2 billion euros ($1.39 billion), for which it received approval from European and German banking regulators.