Merger of DZ BANK and WGZ BANK legally completed - "DZ BANK. Die Initiativbank " is launched
With today's registration of the company, the merger of DZ BANK and WGZ BANK is achieved legally. Monday, 1st of August 2016 is the first working day of the merged bank, with the launch of the word mark "DZ BANK. Die Initiativbank ".
"We completed the merger of DZ BANK and WGZ BANK in a challenging environment according to plan and in a very short time. Our employees have contributed to this with great commitment. We can be proud of their common achievements" said Wolfgang Kirsch, CEO of DZ BANK. "As a united cooperative central institution we are an even more powerful partner for our owners - the cooperative banks in Germany - and for our customers. High internal profitability, solid capitalisation and excellent ratings"
"From the beginning, we count on a competent and motivated team, positive signals from our customers and we are supported by the broad shoulders of the cooperative financial network. This will give us momentum for the continuous expansion of our business" says Hans-Bernd Wolberg, Deputy CEO of DZ BANK. " we have already taken significant policy decisions earlier. With their implementation we will make good progress. "
The completion of the integration process remains scheduled for late 2018. End of September DZ BANK will present an Interim Financial Report reflecting the merger.
For more information, click HERE.
For the complete press release, click HERE.