March 29, 2016 / 9:31 AM / 4 years ago
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 .