Total Takeover of Postbank Would Have Less Consequences for Jobs Than Takeover of Dresdner Bank

At the moment, the partial takeover of Postbank by Deutsche Bank will not lead to job losses. "Only with a possible total takeover at a later moment, jobs will be cut, but not in the same amount as with the takeover of Dresdner Bank by Commerzbank which threatens about 6,500 jobs in Germany", says Matthias Köhler, researcher at the department "International Finance and Financial Management" at the Centre for European Economic Research (ZEW) in Mannheim.

With a total takeover of Postbank by Deutsche Bank at a later moment, Köhler, who investigates on the integration of the European banking markets and the developments within the German banking sector, thinks that especially jobs in Postbank’s administration could be at risk. Because Deutsche Bank is aiming at expanding its retail banking, there would probably be only few workers with direct costumer contact whose jobs would be at risk. Furthermore, Postbank just recently agreed with 5,000 workers on a security of tenure until 2011. Therefore, in the mid- and long-term especially administration would be confronted with job cuts.

Regarding strategic issues, Köhler thinks that Deutsche Bank’s behaviour is sensible, since the bank already absorbed two institutions – Berliner Bank and Norisbank – whose main business has been retail banking. Köhler also says that now Deutsche Bank could continue to strengthen its retail banking - a target clearly expressed by the bank’s management – by taking over Postbank. Postbank is said to have about 14,5 million clients and about 850 branch offices. By a total takeover at a later moment, Deutsche Bank is said to pass Commerzbank by concerning the amount of clients and branch offices. “Commerzbank has been able to extend significantly its distribution network and its client base by absorbing Dresdner Bank, but with a takeover of Postbank, Deutsche Bank could again be on top with 25 million clients and 1,800 branch offices in Germany”, explains Köhler.

For further information please contact

Matthias Köhler, E-mail: koehler@zew.de