The Raiffeisen banks of Thunersee and Kiesental have announced plans to merge in order to enhance their competitive edge.
The merger is a proactive response to the changing banking landscape, driven by digitalization, regulatory pressures, and evolving customer expectations. It reflects a broader trend in the industry, as the number of independent Raiffeisen banks in Switzerland has decreased in recent years.
The merger aims to create a stronger financial institution capable of addressing the challenges in the banking sector. It will have a balance sheet total of approximately CHF 2.5 billion and serve over 27,000 cooperative members. The merger also aims to strengthen the economic network of the region and ensure continuity for customers who value personal support and local banking relationships.
The operational management and Board of Directors of the new bank will reflect an equal partnership, with Peter Burkhalter serving as Chairman and Bruno von Allmen overseeing operational management. The leadership is committed to maintaining the cooperative spirit and shared values of both institutions.
The merger will be decided by a member ballot on March 31, 2025. The leadership of both banks is optimistic about member support based on positive feedback from recent orientation meetings. The fate of the merger will be decided by the cooperative members through a ballot vote.
The merger represents a significant step towards building a more resilient and competitive financial institution. The consolidation is a result of careful consideration and strategic alignment between the two banks, with no discussions held with other potential partners. The leadership recognizes the need for a collaborative approach to navigate the complexities of the banking sector, including increased regulatory requirements and technology investments.