Dear Reader,
This week, I will build on my first blog entry about the Deutsche Bank – Postbank merger. As this week’s discussed topic was about Mergers & Acquisitions, I think this story will give one of the most current examples of two big banks coming to a final decision, after negotiating for several months.
IT IS OFFICIAL - Deutsche Bank bought Postbank, by acquiring just under 30 percent for around €2.5 billion and plans to increase that stake to a majority at a later date. The biggest bank in Germany is taking over Germany’s number one in the mass retail banking market.
(Source: bild.de)
However, some experts regarding to big differences in the company’s cultures criticized the acquisition. “Two different worlds are colliding“ according to Spiegel a business magazine in Germany. "Postbank has a lot of customers who want a cheap current account and nothing else.” “Deutsche Bank's customers tend to be wealthy private individuals with high incomes (Expert Peter of Hohenheim University).”
(Source: MyBridge)
“I don't think Postbank will disappear as a brand, ”said Jürgen Kaeuffer of Semion, a company that measures the most important brands in Germany.
Banking expert Burghof agrees that running the two brands side by side would be the best strategy. “It would make sense if the manager of a small business said 'I'll take Deutsche Bank for my business but my wife and son will use Postbank products,” said Burghof.
Mass versus Elite costumers, Global Player versus Domestic Banker, Friendly and Trustworthy versus Gambler and Profit Maximizer – if you ask me, taking these differences into account it will be really difficult to see these to banks under one roof.
I myself support the idea of keeping these two banks separately, as it could have a adverse affect on the costumers to run both under one name. Aversion to the stock market and Ackermann not being exactly a man of the people could be some aspects to loose customers. Another point is that in the past, Deutsche Bank already failed to divide up its customers among different units within the group with a project called Deutsche Bank 24.
On the other hand Deutsche Bank had to act after it could not come to an agreement with the Dresdner Bank and lost the deal to the Commerzbank, and also lost out its bid for the Citibank, which was acquired by a French bank Credit Mutuel.
Being under pressure Postbank was the last suitable option to keep up with other competitors in the global market.
E.V.
2. Die Welt
Keine Kommentare:
Kommentar veröffentlichen