Volksbank Mittelhessen merged: A new giant is created!

Volksbank Mittelhessen merged: A new giant is created!

An important step in the world of cooperative banks has announced: The Volksbank Mittelhessen will merge with the VR Bankverein Bad Hersfeld-Rotenburg. This decision, which underlines the merger movements already taking place in the banking landscape, comes into force on January 1, 2025 The talks on this merger started at the end of April, which was sealed on September 6 by the signing of the merger agreement by the board members and supervisory boards of both institutes. On October 1 and 2, the representative meetings in Bebra and Gießen unanimously voted for the merger.

reinforcement of the supervisory board

In the course of the merger, three new members were also elected to the supervisory board of the new cooperative. Reinhard Seifert, Matthias Kaiser and Christian Möller will have a say in the fortunes of the Volksbank Mittelhessen in the future. It is an exciting time for the new bank that will occur under the name Volksbank Mittelhessen. The VR Bankverein Bad Hersfeld-Rotenburg remains active under its name as a branch.

The merged bank will come up with an impressive total asset of 12 billion euros, of which 10.8 billion euros come from the Volksbank Middle Hesse. In addition, the new cooperative bank is expected to employ 1,722 employees in 81 branches over 12 counties and 5 district cities.

company and customer advantages

An important concern of the merger is to maintain the existing decentralized structure at the Volksbank Mittelhessen and the VR Bankverein Bad Hersfeld-Rotenburg. The branch structure should also be preserved for at least five years, and an employment guarantee for all employees of ten years ensures additional stability. In addition, customers can hope that all current offers will be preserved and the consulting services will be specified and expanded.

Both institutes, now united, follow a trend that is becoming increasingly noticeable in the world of the Volks- und Raiffeisenbanken. According to a survey by the cooperative association, the number of folk and Raiffeisen banks could reduce up to a quarter in the future. The shortage of skilled workers is mentioned as the main reason for the mergers, which confirmed 78 percent of those surveyed. An increasing regulations also represent a challenge that specify two thirds of the survey participants. Only about a third of the respondents believe that mergers can lead to the required company size in order to be able to exist in the competition.

These developments show that the banking landscape is constantly changing, and the merger between the Volksbank Mittelhessen and the VR Bankverein Bad Hersfeld-Rotenburg is an entertaining example of how companies try to counter the challenges of the market and at the same time ensure their customers an improved range of services. For more information, it is worth taking a look at the articles from www.priving-banking-magazin.de throw.