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
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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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.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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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.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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