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Report: Volksbank Bitburg, Volksbank Eifel Mitte to merge

's membersapproved plans for its merger with Volksbank Eifel Mitte eG, Trierischer Volksfreund reported April 27.

Themerger is likely to be completed in September and will be retroactive to Jan.1, the newspaper said. The new entity will be called VolksbankEifel.

Membersof Volksbank Eifel Mitte had already approved the merger.

VolksbankBitburg had total assets of €674.6 million at year-end 2015, while Volksbank Eifel Mitte's stoodat €604.8 million, according to S&P Global Market Intelligence data.