HypoVereinsbank (HVB Group, UniCredit Bank AG), one of the largest financial institutions in Germany, is a member of UniCredit Group. It is responsible for all of UniCredit's business in Germany. With over 16,700 employees, HypoVereinsbank serves more than 8.5 million customers through 579 branch offices. Its core competencies cover retail banking, corporate banking, private banking, wealth management and international capital markets. The Bank's business focuses on Germany with a strong presence in Bavaria. HVB Group was formed in 1998 from the merger of Bayerische Vereins-bank AG and Bayerische Hypotheken- und Wechsel-Bank AG, which were the two main Bavarian-based regional banks at that time. In 2005, UniCredit took over HVB Group for €19.2 billion. As of September 30, 2015, HVB Group had total assets of €308.046 billion, customer loans of €111.890 billion, customer deposits of €105.585 billion, shareholders’ equity of €20.408 billion and Tier 1 capital of €19.005 billion.