Postbank completes integration of BHW and Deutsche Post branches ahead of plan

Deutsche Postbank AG successfully integrated construction bank BHW and 850 Deutsche Post branches into the parent bank on Oct 1, chief executive Wulf von Schimmelmann said.

This was ahead of the original target date of the end of the year.

‘This doesn’t mean that there isn’t anything left to do,’ Schimmelmann told reporters.

‘It will still take a bit of time until all the processes are fully streamlined and all the smaller bits have been take care of,’ he continued.

Postbank took over BHW and the 850 most profitable branches of Deutsche Post in January this year and added another 13,800 or so staff to its workforce of around 9,200.