MünchenerHyp and Hausbank examine bundling their strengths together

Münchener Hypothekenbank eG (MünchenerHyp) and Hausbank München eG (Hausbank) are conducting talks about a possible collaboration that include a possible merger of the two banks.

A corresponding letter of intent has been signed by both parties. Coming talks should cover key issues and define details of the future strategic direction. These points should then be documented in a memorandum of understanding.

The boards of management of the two banks anticipate that this step will lead to a sustained improvement in their market and competitive positions, as well as their earning power. Furthermore, this move also unlocks opportunities to further expand the individual core competencies of the two institutions – residential and commercial property financing as well as service and software offers for property managers – to the advantage of their members and customers, as well as the Cooperative Financial Network.

We will provide additional information regarding the progress of the talks at an appropriate time.