Dresdner Bank: New Corporate Client business model in the Czech Republic. Czech Subsidiary to be sold to BAWAG

Dresdner Bank is restructuring its corporate client business servicing platform in the Czech Republic. Following the successful application of the integrated wholesale banking client-focused model in Germany, the same model will be introduced in the Czech Republic in order to strengthen market position and profitability. Under this model, Corporate and Investment Banking work closely together to best serve the needs of the Bank’s corporate clients.

As part of the concentration on the strategic core business with corporate clients, Dresdner Bank has decided to relinquish the non-strategic i.e. the private client business in the Czech Republic. To this end, Dresdner Bank AG and the Austrian BAWAG P.S.K. Group have successfully completed negotiations on the sale of Dresdner Bank’s Czech subsidiary Dresdner Bank CZ. The transaction is pending authorization by regulatory bodies.

Following the successful closing of the sale, Dresdner Bank and BAWAG will closely cooperate via a partnership in corporate client business in the Czech Republic, thereby ensuring that Dresdner Bank’s corporate clients continue to benefit from the high level of service and broad range of products of both Dresdner Bank and BAWAG P.S.K. Group. Dresdner Kleinwort Wasserstein’s investment banking clients will continue to be serviced by the Bank’s London, Luxembourg and Frankfurt operations.

Contact:
Simone Stein Tel. 069 263–4960
Katerina Piro Tel. 069 263–81774

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