PRESS RELEASES 2009
DZ BANK AG has successfully placed its EUR 400m capital increase within the Cooperative Financial Services Network. The new shares were offered at an issue price of EUR 7.90 and at a 1-for-23 subscription ratio.
In a challenging economic environment, the DZ BANK Group achieved earnings before taxes of EUR 643m for the first six months of fiscal 2009. This represents an increase of around 30 per cent on the previous year.
Duhnkrack was responsible for SMEs, major customers and structured finance as well as for the bank’s foreign branches. He also coordinated the DZ BANK Group’s international activities.
Programme 2011: Further development of business activities as a Central Institution focused on the Cooperative Financial Services Network – Start of market initiative
Hans-Theo Macke and Thomas Ullrich were appointed as Members of the Board of Managing Directors. Macke will join the Board of Managing Directors by 1 September 2009, Ullrich will join by 1 October 2009.
Riese will be responsible for the further development of the strategy of the DZ BANK Group, for the management of its holdings in Germany and abroad and for the general secretariat of the bank.
Situation of the companies has deteriorated rapidly / Majority not expecting economic stimulus package to have an impact on business development / General confidence in financial sector has suffered
DZ BANK and WGZ BANK have agreed not to pursue their merger talks further for the time being. The main reason for the decision is the continued difficult situation in the international financial markets.
A good operating performance in an extremely difficult market environment / Financial markets crisis has imposed great burdens / A solid operational start to fiscal 2009
Cooperative financial services network strengthens capital under its own steam / Plans to place EUR 500 million of tier 1 capital within the cooperative financial services
Greater importance than ever attached to the safety of investments / Only one quarter of investors intends to spend all of the tax saving from the economic stimulus package on consumer goods
Since January, Wolfgang Kirsch has been Chairman of the Steering Committee of the Unico Banking Group - a position that he will hold for the next two years. Kirsch succeeds Bert Heemskerk (CEO of Rabobank).
Against this background, at the beginning of the week the shareholders of DZ BANK declared that they were willing to increase the bank’s capital.