Commerzbank has raised its profit forecast for the current year and introduced a staff reduction initiative, as Chief Executive Bettina Orlopp intensifies efforts to counter a hostile acquisition attempt by Italy's Unicredit.

The German financial institution stated on Friday that its full-year profit is projected to reach at least €3.4 billion ($4 billion), surpassing the previous expectation of over €3.2 billion. The bank also unveiled new medium-term objectives, which include cutting 3,000 positions. These measures are anticipated to assist in doubling profits by 2030 and achieving a return on tangible equity of approximately 21%.

Orlopp commented in a statement, "We are growing faster than anticipated, and our new targets through 2030 reflect this. Any alternative proposals must be evaluated against this benchmark."

Orlopp's near two-year campaign to maintain the bank's independence is reaching a critical phase, following Unicredit's direct acquisition proposal to Commerzbank's shareholders earlier this week.