login
login

Europe Daily Bulletin No. 8086

8 November 2001
Contents Publication in full By article 36 / 40
ECONOMIC INTERPENETRATION / (eu) banking

The three German banks DEUTSCHE BANK, DRESDNER BANK and COMMERZBANK have merged their building society subsidiaries, giving rise to EUROHYPO, the largest building society in Europe worth a total of 237 bn euro (based on figures for 2000). DEUTSCHE BANK and COMMERZBANK will each have a 35% stake and DRESDNER BANK the remaining 30%. The project will lead to 800 job-losses out of the current some 3000, in all, as well as the closure of 15 branches out of 25.

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION
SUPPLEMENT