“Recently there have been several signals from the ECB that the first rate hike could come in July.”
(Photo: Marc-Steffen Unger for Handelsblatt)
Munich It is the classic merger rumor in the German banking landscape: the Italian Unicredit and its German subsidiary Hypo-Vereinsbank have been considered a particularly attractive partner for Commerzbank for years. According to information from the Handelsblatt, there was a new attempt at rapprochement at the beginning of this year.
In an interview, the CEO of Hypo-Vereinsbank (HVB) explains why now is not a good time to start the long-awaited wave of consolidation in Europe.
Read the interview here:
Mr. Diederich, Pier Carlo Padoan, the supervisory board of your parent company Unicredit, wants international bank mergers and that the money houses in the euro zone become more European. What does this mean for HVB?
Europe needs strong European financial houses. However, the banking structure is highly fragmented, especially compared to the US market. In view of the many risks, from the war in Ukraine to the pandemic, a wave of consolidation is currently unlikely.
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