HVB Group's bid to return to profit and financial health this year got a boost yesterday from progress in the sale of its consumer finance unit and the disposal of its stake in utility E.ON. Frankfurt-based DZ Bank, an unlisted group owned by 1400 small German co-operative banks, confirmed it was talking to HVB about buying Norisbank, a consumer finance specialist with 100 branches. Germany's second largest listed bank declined to comment on the Norisbank auction, but it earlier announced the issue of a (pounds) 178.2m bond, exchangeable for 4.6 million shares in E.ON.
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