Merger of two savings banks failed for the time being

The merger of the Sparkassen Holstein and Südholstein has failed for the time being.

The board of directors of Sparkasse Südholstein decided in its meeting on October 18, "currently not to continue the merger talks initiated in June 2021 with Sparkasse Holstein", said Sparkasse Südholstein.

Both savings banks combine "a strong financial basis, high customer orientation and understanding as a financing partner for the regions of South Holstein and Holstein".

Bad Oldesloe / Neumünster - But further discussions have shown, according to the information, that the differences are greater than originally expected.

In June, the board of directors unanimously voted in favor of entering into more in-depth merger talks.

dpa