The state banks may be able to breathe a sigh of relief: the Bavarian savings bank president Ulrich Reuter apparently does not want to actively advocate mergers among state banks if he is elected president of the Federal Association of German Savings Banks and Giro Associations (DSGV). It is not in the power of a DSGV president to push mergers because the decision rests with the owners, Reuter said on Thursday at the association’s annual press conference. The 60-year-old former district administrator is expected to be elected president of the DSGV on Monday and will succeed incumbent Helmut Schleweis in early 2024. The latter had expressly set itself the goal of merging the five state banks, but was unable to implement this. Apart from that, Reuter hardly said anything about his plans with the association. Out of “respect for the office” he did not want to comment before his election.
Landesbanken – Mergers are a long way off – Economy
