SKG  Bank  (Saarbrücken)  merged  into  DKB  Bank (Berlin)  in  mid-July  2015.  In  the  future,  it  will  focus  on  the installment credit business. DKB obtained detailed legal advice on the merger from the law firm of Luther Rechtsanwaltsgesellschaft mbH.

In  past  years,  SKG –a  wholly  owned  subsidiary  of  Deutsche Kreditbank  AG –had  already  been  the  specialist  on  installment credit within the DKB group of companies. In the future, it will focus exclusively on this business segment. The approximately 140 jobs at the  Saarbrücken  site  will  remain  in  place.  SKG  will  continue  to  do business as a branch of DKB under the “SKG Bank” brand.

DKB decided last year to merge SKG into the parent company. The move had two aims: avoiding the extra regulatory work and expense associated  with  operating  two  banks,  and  furthering  the  strategic positioning of DKB in the German banking sector.

Luther  provided  advice  in  the  fields  of  corporate  law,  employment law, and banking and bank regulatory law to DKB during the merger.

About SKG

SKG  Bank  was  founded  in  Saarbrücken  in  1953  by  Landesbank Saar.  It  initially  concentrated  on  the  regional  partial  payment  and leasing  business  for  private  clients.  It  became  a  wholly  owned subsidiary  of  Deutsche  Kreditbank  AG  (DKB)  in  2008.  SKG  now operates  throughout  Germany.  In  recent  years,  it  has  expanded  its private  clientele  as  a  direct  bank  and,  in  particular,  has  grown  its expertise in the area of installment credit.

About DKB

Deutsche Kreditbank AG (DKB) was founded in Berlin in 1990. With a balance sheet total of more than 71 billion euros and about 3,100 employees, DKB is one of Germany’s top 25 banks. In the private client business, it is the second largest direct bank in Germany, with more  than  three  million  customers.  DKB  utilizes  over  80  percent  of its balance sheet total in the form of lending. For example, it finances the construction of housing that is appropriate for the elderly and for families,  energy-efficient  real  estate,  health  facilities,  schools,  and childcare   centers.   DKB   has   been   financing   renewable   energy projects (wind, solar, hydroelectric) since 1996.

For DKB Bank

Luther, Corporate Law: Stephan Gittermann (Lead Partner, Hamburg/Frankfurt am Main), Juliane Lennartz, LL.M. (Hamburg)

Luther,  Employment  Law:  Dr Volker Schneider  (Partner),  Sandra Sfinis (both Hamburg)

Luther,  Banking  and Capital Markets:  Dr Rolf Kobabe  (Partner, Hamburg), Anke Ulrich, LL.M. (Berlin)