Key facts
- UniCredit's CVA RWAs doubled in the second quarter of 2026.
- The Italian lender launched a takeover offer for Commerzbank.
- UniCredit continued to build its Commerzbank position through total return swaps.
- The bank's total CVA RWAs reached €2.3 billion, a near eight-year high.
UniCredit's credit valuation adjustment risk-weighted assets (CVA RWAs) doubled in the second quarter of 2026, reaching €2.3 billion ($2.6 billion). This marks the highest level for the Italian lender's CVA RWAs in nearly eight years. The significant increase was attributed to strategic transactions, specifically UniCredit's launch of a takeover offer for Commerzbank and its continued stake-building in the German bank through total return swaps.