Merger Between Volksbanken and Investkredit

Professional ServicesBanks ♦ Published: November 16, 2010; 12:23 ♦ (Vindobona)

The merger between the Österreichischen Volksbanken AG (ÖVAG) and Investkredit, the subsidiary acquired in 2005, shall be in effect by July.

Merger Between Volksbanken and Investkredit / Picture: © Wikipedia / 718 Bot

ÖVAG is still without a partner, but merges with its subsidiary Investkredit. Synergies and efficiencies should be increased. The "efficiency and development program" is meant to "achieve greater profitability, strengthen synergies and prepare for the stratification of the participation capital." The merger is to be completed by July 10, 2011, and ÖVAG turns into "ÖVAG+” (ÖVAG +…