On the 7^th of July, Wolfgang Kirsch, chairman of the DZ BANK, will give a lecture about the challenges and chances regarding a merger of two central banks (DZ BANK and WGZ-Bank).
The merger of the two remaining central banks in the cooperative financial network is on its way: The boards of management signed the merger agreement already back in April and if the representatives of cooperative banks as shareholders in the respective general assembly of the DZ BANK as well as the WGZ BANK agree, the joint cooperative central bank begins operating as the third largest bank in Germany on 1^st August 2016.
The merger of the two unequal large central banks will create synergetic effect of approximately 100-150 Mio. EUR per year for the proprietaries. At the same time, together with the “Volksbanken” and “Raiffeisenbanken” market share in the medium-sized businesses is to be expanded. The merger of the central banks enables the implementation of a holding model within the all-finance group at the same time. In order to transform such synergetic effects into economic growth more than innovation in the organisational structure and downsizing is necessary.
The lecture informs about the chances and challenges on the way towards an efficient united central bank. Prospectively, this united central bank will be named “DZ BANK. Die Initiativbank”.