“Major player emerges in cooperative banking with merger of Mainzer and Darmstadt Volksbanken”

The merger of the Mainzer Volksbank with the Volksbank Darmstadt is a done deal: the representative meetings of both houses approved the project last week, so that the merger of the two cooperative institutes can take place in the second half of this year, as the companies announced. While the shareholders of the Volksbank Darmstadt-Südhessen voted in favor of the merger with 99.3 percent, there was no dissenting vote from the ranks of the representatives of the Mainzer Volksbank.

The merger will create “an even more powerful Volksbank in the Rhine-Main metropolitan region,” said Uwe Abel, Chairman of the Board of Directors of the Mainz bank. At the same time, a new major player is emerging from this in the field of cooperative banks in the region. Because the new bank will have a balance sheet total of well over 14 billion euros and will manage a credit volume of almost eleven billion euros. It will have around 210,000 members and employ around 1,600 people.