Following on from our note in December last year, Germany's two central co-operative banks, DZ Bank and WGZ Bank, have now been given approval by the anti-trust regulator to merge. The move is designed to cut costs, build an economy of scale, boost capital by more than €500m, and help diversify the range of subsidiary products and services available to the local co-operative banks. March 29, 2016 In a statement released today, Deutsche Bundesbank president Jens Weidmann said: "The merger will create one of Europe's largest cooperative banks with branches across Germany as well as offices in London, Paris, New York City and
Following on from our note in December last year, Germany's two central co-operative banks, DZ Bank and WGZ Bank, have now been given approval by the anti-trust regulator to merge. The move is designed to cut costs, build an economy of scale, boost capital by more than €500m, and help diversify the range of subsidiary products and services available to the local co-operative banks. In a statement released today, Deutsche Bundesbank president Jens Weidmann said: "The merger will create one of Europe's largest cooperative banks with branches across Germany as well as offices in London, Paris, New York City and