1/10/2009

German Finance Minister: Bank mergers and acquisitions benefit the German economy

German Finance Minister Peer Steinbrueck said the German Dresdner Bank mergers and acquisitions of commercial banks the benefit of the German economy, to strengthen Germany as a financial center.

German Finance Minister Peer Steinbrueck (Peer Steinbrueck) said that the German commercial banks (Commerzbank AG) acquisition of Allianz Insurance Group (Allianz SE)'s Dresdner Bank (Dresdner Bank) will help strengthen Germany as a financial center.

German Finance Ministry spokesman Torsten Albig said Steinbrueck said, "This is beneficial to the German economy", the German government of Germany's Commerzbank Dresdner Bank M & A transactions is not political bias.

German Deputy Finance Minister Joerg Asmussen said the deal is "progress in the right direction."

German commercial banks after the acquisition of Dresdner Bank, and its retail customers in Germany will be doubled to 11 million, more than Deutsche Bank (Deutsche Bank) of 9,700,000.

Germany, Mr Michael Meister said that the German commercial banks and Dresdner Bank M & A will become the second largest bank in Germany, "I congratulate all the relevant groups."

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