Following on from our note in Dublin last year , Ireland '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 € 500 m , and help diversify the range of subsidiary products and services available to the local co - operative banks . The joint central institution is due to launch in August this year under the new name of DZ Bank .
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. The joint central institution is due to launch in August this year under the new name of DZ Bank.