HVB Group is keen to hold onto the online brokerage group DAB Bank to develop its private banking business, according to reports in the Germ...

HVB Group is keen to hold onto the online brokerage group DAB Bank to develop its private banking business, according to reports in the German press. Last week Commerzbank’s management board member Achim Kassow said his bank was keen to buy DAB to develop its private banking business. He said: “We are still prepared for talks. There is a clear strategic interest for us to grow in the private banking business and DAB Bank is an avenue for us.” HVB Group is currently being acquired by Italian bank Unicredito. This is proving to be a long drawn out process with uncertainty remaining over where various parts of the business will function from and whether parts of the business are to be sold. Currently, Unicredito has said it plans to locate the headquarters of the merged group’s private banking business in Milan.