The and central bank, shortened as Danat bank designation, was German Kreditinstitut.

History

The and central bank resulted 1922 from fusion of the bank for trade and industry with the central bank.

bank for trade and industry

The bank for trade and industry with seat in Darmstadt was created 1853 as corporation of David Hans man and Abraham Oppenheim after the model of the French bank Credit Mobilier with a capital stock of 25 million guldens. The bank extended its line of business, by it branches in Berlin (1871), after which turn of the century opened also in Stettin (1900) and Hanover (1901). The influence of the bank should be expanded by communities of interests with other German banks also since regions, in those the bank not represented war.1910 branches in Duesseldorf, Munich and Nuremberg was furnished. 1913 took over the bank the Breslauer Disconto bank with altogether 19 branches. In the inflation years 1918 to 1921 the bank opened innumerable new branches in completely Germany.

Central bank

The central bank resulted 1920 from fusion of the 1871 to created German central bank in Bremen with the 1881 created central bank for Germany in Berlin. Both societies were not private banks and had any official Auftrag.Die German central bank took over 1906 the northwestGerman bank AG and extended thereby their line of business in the Ruhr district inside.

Danat bank

From the fusion of the bank with the central bank 1922 one of the largest business banks in the German Reich resulted. 1931 were the Danat the second largest bank of Germany, when it became insolvent after initial rumors from 17 June on 13 July by the bankruptcy the north German & comb yarn spinning mill. The Danat bank is thus a prominent victim of the deflation in Germany in the surrounding field Weltwirtschaftskrise.Der collapse of the Danat shook the confidence into the entire German bank system and released a taking off wave on accounts of all credit institutes. As reaction of the government bank holidays were proclaimed. On arrangement of the realm government the and central bank were fused afterwards with the Dresdens bank.

Admitted personalities

Bakannte bankers of the Danat were:

• Bernhard Dernburg (executive committee of the bank 1901-1906)
• Hjalmar pit (director of the central bank 1915-1922, and/or the Danat until 1923)

Literature

• Manfred Pohl: Concentration in the German banking (1848-1980). Publishing house Fritz scarce, Frankfurt/Main 1982.

Related links

• http://www.luise-berlin.de/bms/bmstxt01/01072gesg.htm

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