Commerzbank’s joint brand is implemented
by Richard Kilner
Story link: Commerzbank’s joint brand is implemented
Commerzbank has announced that,a year and a half after acquiring Dresdner Bank, the firm’s new joint brand has been successfully implemented.
The integration of the two financial institutions is now mostly complete, and the new organisational structure has been in place since the start of Q3 2010.
Certain aspects of the integration and rebranding have been achieved ahead of schedule, with 1,600 buildings (including 700 that were formerly of Dresdner Bank) now rebranded with the new corporate design.
The integrated bank will achieve synergies worth €1.1bn by the end of 2010, 10% better than had originally been expected.
From 2013, total synergies will amount to the even more substantial sum of €2.4bn.
Commerzbank’s Martin Blessing has said that the integration process is going step-by-step and ahead of schedule, with the joint bank already a reality for the firm’s customers.
The merger is also popular with customers, according to research conducted by TNS Infratest which found that nine out of 10 of those surveyed thought the merger to be positive or neutral for them personally.