Merging German banks post promising results

Article Abstract:

Bayerische Hypotheken & Wechsel-Bank AG has merged with Bayerische Vereinsbank AG. According to Vereinsbank Chairman Albrecht Schmidt, the pro-forma results, released ahead of Hypo-Bank's annual shareholders meeting in Munich, Switzerland, shows that the company is keeping its profitability while pushing ahead with the formation of a new bank. The merged bank's operating profit increased to 1.49 billion marks in the first quarter of 1998, up from 1.25 billion marks in the same quarter in 1998. The merged bank's biggest profit generator in the first quarter was interest income, which increased 8.7% to 2.4 billion marks.

Comment:

Has merged with Bayerische Hypotheken & Wechsel-Bank

Acquisitions & mergers, Article, Bayerische Hypotheken & Wechsel-Bank AG, Bayerische Vereinsbank

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Dresdner Bank's net forecast to be solid

Article Abstract:

Dresdner Bank AG is expected to post strong earnings for the first-half of 1999. Analysts predict that the bank will report pretax profits ranging from 880 million euros and 900 million euros in the period. This amounts to a 32% to 34% improvement over the year-before period. Net profits are expected to reach 500 million euros to 520 million euros. This is a 5% to 7% hike.

Sales, profits & dividends, Banking industry, Finance, Abstract, Dresdner Bank AG (Frankfurt, Germany)

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Credit Suisse gets ready for expansion in Germany

Article Abstract:

Credit Suisse Group is preparing to expand its operations in Germany. The company will expand in the country with a small physical presence, relying more on Internet services and on a willingness to engage in acquisitions and mergers.

Marketing procedures, Financial Services, Finance and Insurance, Planning, Financial services industry, Credit Suisse Group

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