EDE founds own bank

EDE, a Wuppertal-based family concern, has founded a bank of its own, the Etris Bank. As announced at a press conference in Wuppertal, the 100 per cent-owned EDE subsidiary has already been granted a licence to conduct banking transactions. The six-month pilot phase will begin on 1 July this year, with business activities scheduled to be taken up on 1 January 2012. “Founding the Etris Bank is a logical and consistent step in the steady development of all service areas as a core element of E/D/E’s long-term corporate strategy,” says Hans-Jürgen Adorf, chairman of the EDE board of management. Etris Bank is a special bank for central settlement, payment transactions and commercial financing, which will in the future take over the financial business of EDE.