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DG HYP and WL BANK push ahead with merger / MoU signed

Merger closing date effective retroactively as of 1 January 2018 is planned

The two cooperative real estate banks DG HYP and WL BANK are pushing ahead with their planned merger. The banks started merger talks in March 2017 and since then have worked out the key features of the merged real-estate bank. The boards of managing directors of the two companies have now approved these in a joint memorandum of understanding (MoU).

The strategic goal is to pool the existing expertise of both banks and at the same time to avoid duplication, to serve customers from a single source and in particular to increase yet further the benefits for the cooperative banks. The merged real-estate bank will continue to serve existing customer segments – commercial clients, the housing industry, local authorities and retail customers – to the same extent and in the same depth and will be among the leading providers in all business segments. At the same time, the merger creates Germany’s largest pfandbrief bank.

Presse release for PDF download