Frankfurt / Alzenau (dpa) - The planned Volksbank merger across the Hesse-Bavaria state border is perfect: Frankfurter Volksbank and VR-Bank in Alzenau, Lower Franconia, are merging with retroactive effect from January 1, 2021.
After the positive vote of the representatives 'meeting of the VR-Bank last week, the representatives' meeting of the Frankfurt Institute also approved on Tuesday evening - with a majority of 99.03 percent, as the Frankfurter Volksbank announced on Wednesday.
"With the overwhelming result, our meeting of representatives is sending a strong signal to further pool the cooperative forces," said Eva Wunsch-Weber, chairwoman of the board.
For Frankfurter Volksbank, which is only surpassed by Berliner Volksbank in terms of total assets among Germany's Volksbanks, it is the 20th merger in the past three decades - and the first across the Hessian border.
Most recently, at the turn of the year 2018/2019, the institute, which currently has around 1,500 employees supplying more than 600,000 customers, completed the merger with the likewise much smaller companies Vereinigte Volksbank Maingau and Volksbank Griesheim.
In autumn, the cooperative partners agreed on an employment guarantee for all 42 VR-Bank employees for five years.
VR Bank boss Sigrid Werner is to remain responsible as divisional director for her familiar business area, which currently has 23,000 customers.
The branch network of the VR-Bank with four branches (Alzenau, Karlstein, Kleinostheim, Schöllkrippen) and a self-service location is to be maintained until at least the end of 2025.
© dpa-infocom, dpa: 210421-99-289412 / 3
Declaration of intent of the two Volksbanks October 21, 2020
Approval Alzenau April 16, 2021
Frankfurter Volksbank on the 2019 balance sheet
Frankfurter Volksbank in profile
Annual reports Frankfurter Volksbank
BVR facts and figures on the cooperative banking group
Facts and figures about VR-Bank Alzenau