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Volksbank Bautzen, Dresdner Volksbank Raiffeisenbank to merge in 2017

andDresdner Volksbank RaiffeisenbankeG said April 6 that their boards signed a cooperation agreementthat will ultimately see the two German regional banks merge in 2017.

Subjectto the required approvals, the new entity will be called VolksbankDresden-Bautzen eG.

Noredundancies or branch closures are expected as part of the merger.