FRANKFURT/MILAN (Reuters) - UniCredit chief executive officer Andrea Orcel and Commerzbank's designated chief Bettina Orlopp have held a first round of talks as the Italian bank presses to explore a tie-up and the German bank readies its defence.

The following charts show how the two banks differ across an array of measures and what any combined bank could look like:

1. UNICREDIT VS. COMMERZBANK

The Italian lender is more efficient and more profitable than its German counterpart - with a market capitalisation that is more than triple the value of Commerzbank.

One area where Commerzbank is stronger: its credit rating. UniCredit is weighed down by its home market exposure and Italy's greater relative risk of default compared to that of Germany.

2. DETAILED VIEW

UniCredit's German operations comprise mainly HVB, the Bavarian lender it acquired in 2005. HVB in the chart below stands for UniCredit's German operations.

3. UNICREDIT OUTPERFORMS

Investors, lulled by UniCredit's profits and buybacks, have sent the Italian bank's share price surging in the last two years, with the Milan-based bank's stock outpacing gains at European banks and its smaller German rival.

4. COMMERZBANK SURGES

The German bank's shares have soared nearly 30% since UniCredit announced it was amassing a stake, pushing Commerzbank to the highest since 2011.

5. THE LONG VIEW

Despite the recent gains, Commerzbank shares have had a rough 15 years since the German state bailed it out during the global financial crisis.