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Allgemeine Deutsche Direktbank AG and Direkt Anlage Bank AG, two of Germany's largest online banks, are currently engaged in merger talks. Allgemeine Deutsche Direktbank currently has assets worth around $5.8 billion, while Direkt Anlage Bank has assets worth around $1.4 billion.The talks aim to create a stronger and more competitive player in the rapidly-evolving field of online banking and finance. The combined entity would have a larger customer base and a broader range of products and services to offer, and would be better positioned to compete against larger domestic and international banks.The talks reflect the ongoing trend towards consolidation and strategic alliances in the financial sector, as banks seek to stay ahead of the curve and remain competitive in a crowded and dynamic market driven by technological change.
Wednesday, 29 March, 2000