The DekaBank is German Kreditinstitut with head office in Frankfurt/Main. It is Zentralinstitut and Verbundpartner for the unit trust fund business of the German savings banks. The DekaBank came out 1999 from the fusion of the German Girozentrale German local bank and the DekaBank. It has among other things subsidiary companies in Luxembourg and Ireland.

History

Ten years, after Johann Christian Eberle had introduced the clearing operations with the savings banks and several regional had been based, the German Girozentrale (DGZ) was opened on 1 February 1918 as legally dependent Bankanstalt of the German central giro federation in Berlin. The roof federation took over the full adhesion and equipped the bank with working capital.

Already to beginning of business the DGZ took over various tasks. It maintained the cashless money transfer (clearing operations) and provided for a money reconciliation between the regional Girozentrale. In addition belonged to its tasks to grant and receive of this interest-bearing funds to the member federations of the German central giro federation (starting from 1924 German savings bank and Giroverband) and other German local federations short term loans to buy and sell change as well as loans take up.

1919 were recognized the DGZ as economically independent public Bankanstalt and received permission for operating also the long-term local business and for presenting municipal bonds. Therefore 1921 the name "“German local bank"” was supplemented. With the re-organization of the local banking the DGZ became also legally independent 1931 and received to 1932 its own statute for the first time. Adhesion unlimited liability remained however further the German savings bank and Giroverband. Organs of the bank became the general meeting, board of directors and board of directors.

At the same time the supervision turned into over the DGZ from the Prussian ministry of the Interior on the realm government. The local credit prohibition and the integration into the National Socialist central administration economy with provision of work and war financing worked in the future coining/shaping.

After the occupation of Berlin by the allied ones the bank lying in the Soviet sector was shut down 1945. 1947 were re-activated it in Duesseldorf, however limits to the short term business. Only 1954 took the DGZ their full business activity, one year later opened it a branch in Berlin, 1965 the head office to Frankfurt/Main were shifted. Afterwards it could maintain ground as Spitzeninstitut of the German savings bank organization, in particular with national central credit actions, in the local business Geldhandel as well as with the security business and emission trade.

Their increasing international meaning showed up e.g. in the fact that it was involved in international issuing transactions and the German Girozentrale created 1971 internationally S.A. in Luxembourg.

Literature

• Mura, lines of development of German savings bank history (savings banks in history, abbott 3, Bd. 2), Stuttgart 1984.

Related links

• Official Website of the DekaBank

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