Landesbank Hessen-Thüringen (Helaba) and DekaBank are to merge into a major bank of savings banks. A spokeswoman for the German Savings Banks and Giro Association (DSGV) confirmed a corresponding preliminary report of the "Börsen-Zeitung".
Accordingly, Helaba and DekaBank had begun discussions "for the examination of a deeper cooperation up to a merger". On Tuesday, the association presidents and the state officials of the savings banks had taken a decision in a joint meeting. According to "Handelsblatt", the decision to open negotiations was unanimously approved by the panel. However, the merger is not sealed by that.
DekaBank belongs to the savings banks and handles securities transactions for them. The majority shareholder of Helaba is the Sparkassen- und Giroverband Hessen-Thüringen, but also the states of Hesse and Thuringia are involved.
The savings banks would look for the discussion with the other carriers, said the DSGV spokeswoman. According to Sparkassen-President Helmut Schleweis, the two institutes should form the core of a future Sparkassen-Zentralinstitut.
The Deka has long been at the center of considerations to forge several German Landesbanken into a "super-Landesbank". The Deka would rise to become the central institute and assume tasks for the savings banks that are still with the Landesbanks today.