HVB Group plans to open franchised branches in Germany to strengthen its retail banking operations, Financial Times Deutschland reported in a preview of an article that will be published tomorrow, citing the German lender.
The offices, equipped by HVB, will be operated by independent partners who will pay a fee for the branches and only sell the bank’s products, Peter Buschbeck, head of HVB’s retail banking operations, said, according to the newspaper.
HVB is Italian bank UniCredit SpA (UCG)’s German unit.
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