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Raiffeisenbank merger secures future: Volksbank Mittelhessen becomes stronger!
Merger: Raiffeisenbank im Hochtaunus is merged with Volksbank Mittelhessen - return to branches and regional service.
Raiffeisenbank merger secures future: Volksbank Mittelhessen becomes stronger!
An important milestone is coming up for Volksbank Mittelhessen: the merger with Raiffeisenbank in Hochtaunus is a done deal. Loud op-marburg.de Representatives of both banks voted overwhelmingly in favor of the merger. On August 18, the Raiffeisenbank was able to agree with 95.9% and the Volksbank Mittelhessen even with 98.6%. The merger will take effect retroactively to January 1, 2025 and could have a lasting impact on the banking landscape in Hesse.
The background to this decision is not unproblematic: the Raiffeisenbank in Hochtaunus was in economic difficulties, caused by risky real estate financing that resulted in massive losses. In order to stabilize the bank, support of 440 million euros was required, which was provided by the cooperative security institution. tagesschau.de reports that this was also a reason why Raiffeisenbank's plans to dissolve were put on hold in favor of a merger.
Return to the branch bank
The merger also brings with it the prospect of a return to a more traditional banking model. After all, Raiffeisenbank planned to rely on pure online banking after closing its branches. Now branches are to be opened again in Oberursel and Wehrheim, as those responsible for the banks emphasize. The location in Bad Homburg remains unchanged, and it will continue to be offered online under the “MeinBank” brand.
The CEO of Raiffeisenbank, Frank Klomfaß, expressed his gratitude for the trust of the members, while Dr. Peter Hanker, board spokesman for Volksbank Mittelhessen, praised the successful negotiation. The founding of the merged bank creates one of the largest cooperative banks in Hesse with an impressive balance sheet total of over 14 billion euros and around 455,000 customers.
The future in sight
The bank not only wants to bring back its branches, but also plans to focus on regional retail and corporate banking. The technical merger of the IT systems is scheduled for the end of November 2025. This also completes the transition between accounts and balance sheets. The four-week period for possible objections regarding the upcoming entry in the cooperative register remains. Raiffeisenbank customers will have to adapt to new account numbers, but the online offer will continue to exist.
Given the challenges and opportunities ahead, it is important for cooperative banks to gain size and substance. In a merger like the one now taking place, everyone involved benefits. Greater growth not only strengthens market resilience, but also increases employer attractiveness and could open up new strategic options. zeb-consulting.com highlights that regular reviews of such options are a wise step to meet evolving needs.