The merger of the two Bausparkassen of the Hamelin-based BHW Group to form BHW Bausparkasse AG came into force on 1 August 2003 as scheduled. In addition to leveraging synergies, this move is aimed, in particular, at strengthening the Group’s business with cooperation partners in the banking and insurance industries. As part of the merger, Hans-Joachim Gasda (responsible for the Lending division) and Dr. Joachim Klare (responsible for Third Party Sales) were appointed to the Management Board of BHW Bausparkasse AG. Following the merger, the company has over 3.1 million customers and existing contracts of around 5.5 million.

Established in 1928, BHW Bausparkasse AG focused on the public sector and BHW Allgemeine Bausparkasse AG, founded in 1982, provided services to the general market. However, the original reasons for this split between the target groups of the Bausparkassen have ceased to apply, especially in view of the privatisation of a large number of public sector companies. In recent years, the range of products offered by the two Bausparkassen has become virtually identical. Today, customers in all sectors benefit from BHW’s flexible rate system and comprehensive financial advice, all from under one roof.

BHW expects further impetus for expanding existing alliances and winning new cooperation partners as a result of the merger. With its expertise in areas such as Bauspar savings and home finance, as well as increasingly in private pensions, the BHW brand is a highly attractive complement to other brands. The merger brings together existing business with cooperation partners throughout the Group.

Once the Beamtenheimstättenwerk, an organisation providing home loans to civil servants, BHW is now a modern financial services provider offering a highly varied range of private provisioning services. These cover the full spectrum from finance for private residential property construction to life assurance, pensions, investment funds and bank savings schemes. A total of 3.5 million customers invest in excess of € 12 billion each year in private provisioning and private asset accumulation with BHW. They know that they can rely on the product quality and expertise of one of Germany’s major financial services groups.