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Frankfurt / Main (dpa) - The private banks in Hesse, Rhineland-Palatinate and Saarland are now representing their interests in a joint association.
The Hessian association in Frankfurt am Main announced that the banking associations of the three countries had been merged retroactively to January 1 to form the new Central Banking Association.
The members of the Hessen Banking Association approved the merger on Thursday.
"Efficient structures are particularly important in today's market environment," said Commerzbank board member Bettina Orlopp, who is taking over the chairmanship of the Central Banking Association.
The new Central Banking Association is based in Frankfurt and, according to its own information, represents more than 100 member institutions with almost 40,000 employees.
© dpa-infocom, dpa: 210429-99-407683 / 2