VR Diskontbank Shows Leap in Annual Surplus

VR Diskontbank, the German-based co-operative bank offering financial services in the areas of factoring and central regulation, last year showed turnover down by 8 per cent to DM22.5bn in a year-on-year comparison.

Germany’s DG Bank and GZ Bank to Merge

DG Bank, which owns the factoring company DG Diskonbank, is to merge with GZ Bank, it was agreed on Tuesday. The union will create the country's sixth largest bank with assets of E370bn ($340bn).

Revolutionary Tax Reforms to Sweep Germany

German Chancellor Gerhard Schrцder, referring to his country’s reputation for high taxes and low growth, has declared that “The German disease is over.” Reforms last month have cut the tax burdens of incorporated companies from 40% to 20% (effect

Fall in Market Share for DG Diskont

The bank is a market leader in Germany in the field of factoring, but has suffered a drop recently in its market share - from 24 to 21 per cent - through the loss of a major client.

Deutsche Factoring Bank Increases Turnover

Deutsche Factoring Bnak increased turnover by 8% to about 1.8bn euros in 1999. Annual net profits rose by 1% to 20.6 m euros. They expect domestic business to grow in the coming months, despite growing pressure to manage costs.