Degussa Bank

The Degussa Bank AG, based in Frankfurt, is a German universal bank.[3]

Degussa Bank
TypeJoint-stock company
IndustryUniversal bank
Founded1873[1]
HeadquartersFrankfurt, Germany[1]
Total assets€ 6,106 million (2018)[2]
Number of employees
687 (2018)[2]
Websitewww.degussa-bank.de

The balance sheet total is €6,106 million (2018).[2] The Degussa Bank has more than 250 branches in Germany, mainly in industrial, business and technology parks as well as at corporate locations.

Business areas

The bank operates in two business areas: retail banking and corporate banking. In the private customer business, the bank focuses specifically on the employees of the partner companies at corporate locations.

In the corporate customer business, the bank specializes in a range of financial services for the management of partner companies. These include, among other things, services in the corporate credit card business as well as services in the employee stock ownership business.

As a partner to the companies close to where the Degussa Bank maintains branches, the bank develops services for these companies, for example in the field of travel management.

The bank is admitted to trading on the stock exchanges in Frankfurt am Main,[4] Berlin,[5] Munich and Stuttgart.[6]

History

In 1873 Degussa (Deutsche Gold- und Silber-Scheide-Anstalt) was founded.[7] Even then, Degussa was entitled to "engage in banking activities related to the trading and processing of coins and unmounted precious metals". In 1936 it was recognized as a foreign exchange bank. In 1947 the house was approved as a foreign trade bank. In 1979, the Degussa Bank headquartered in Frankfurt am Main was spun out of Degussa AG as GmbH. The department in the group thus became a bank.[8]

From 2002 until the end of 2006, the institute, as a subsidiary of ING-DiBa AG, belonged to the Dutch ING Group.[3]

The Degussa Bank AG is the parent company of the Degussa Bank-Group and, for its part, is not majority-dominated. ERSTE NEUE Christian Olearius Beteiligungsgesellschaft mbH and Degussa Poolgesellschaft mbH & Co. KG, both based in Hamburg, hold more than 25% of the bank.[9]

In 2014, the bank changed its legal form from a limited liability company to a Corporation.[10]

Further information

The bank is a member of the deposit insurance fund of the Federal Bundesverband deutscher Banken.

References
  1. "Company Overview of Degussa Bank AG". Bloomberg. Retrieved 9 December 2018.
  2. "Geschäftsbericht 2018". Degussa Bank. Retrieved 30 July 2019.
  3. "Degussa Bank AG". relbanks.com. 7 December 2017. Retrieved 9 December 2018.
  4. "Degussa Bank Portfolio Privat Aktiv". BÖRSE FRANKFURT. Retrieved 9 December 2018.
  5. "DEGUSSA-BANK UNIVERSAL-RENTENFONDS". BÖRSE BERLIN. Retrieved 9 December 2018.
  6. "Degussa Bank-Univ-Rentenfnds". BÖRSE STUTTGART. Retrieved 9 December 2018.
  7. Köhler, Manfred (22 December 2011). "Die Degussa ist wieder da". Frankfurter Allgemeine. Retrieved 9 December 2018.
  8. "Degussa, die deutsche Gold- und Silber-Scheide-Anstalt". Banken-Auskunft. Retrieved 9 December 2018.
  9. "Willkommen in der WorksiteBank". Degussa Bank. Retrieved 9 December 2018.
  10. "Degussa Bank Historie". Degussa Bank. Retrieved 9 December 2018.


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