The municipal savings bank Munich is a public savings bank with seat in Munich in Bavaria. Their line of business is the state capital Munich.

Organisational structure

The municipal savings bank Munich is an institute of the public right. Legal bases are the savings bank law for Bavaria and the statute issued by the board of directors of the municipal savings bank. Organs of the savings bank are the executive committee and the board of directors.

Altogether the municipal savings bank Munich employs 2,598 coworkers and 247 training. Geldinstitut operates 91 branches, 36 self-service branches, 4 donations as well as 37 "“authority and care centers"”. The market ranges are divided as follows: Offices with attached authority centers (plant, real estate and trade customer centers), private customer service and firm customer service.

Business adjustment and business success

The municipal savings bank Munich operates the universal banking transaction as savings bank. It is market leader in its line of business. With a balance sheet total of approx. 13.0 billion EUR it takes 2004 of the savings bank newspaper place 7 of altogether 477 savings banks in the savings bank rank list. In the group business co-operates the municipal savings bank Munich with the LBS Bavarian national building society, the DekaBank, the insurance chamber Bavaria and the German leasing.

History

On 2 November 1824 the "“savings bank at that time Munich"” opened its first savings bank restaurant in the meadow quarter of the historical old part of town. There were not restrictions regarding certain population circles or occupational group from beginning; the deposit sum was only limited to 300 guldens per year. 1840 amounted to the storage existence 4.5 million guldens. Nevertheless the savings bank Munich comes due to numerous removals, which took place due to risen food prices more frequently, into the 1840er years into disbursement difficulties.

Altogether the business development ran in these years braked. The 1836 in Munich broken off Cholera, the hunger emergency and low interest let the cash on hand rise not substantially. The savings bank Munich came again into Auszahlungschwierigkeiten, as if increases disbursements were demanded. King Maximilian II. issued stricter statutes and increased the interest rate. Since then the cash on hand rose in such a way that the savings bank was Munich for the first time able to make credits available for public projects like the building of the Maximilianstrasse or the building of drains. 1888 assigned it for the first time to mortgage loans at private people.

After 1900 the municipal savings bank began the securities trading, introduced the cheque and transfer traffic and modernized the small savings nature. 1914 referred it their master seat in the resident of Munich valley; at this time it possessed eight branches. The end of the First World War and the world economic crisis let the inserts shrink. End of 1923 only zirka 200,000 realm Marks at inserts were present. Due to emergency decrees 1931 the savings bank under the name urban savings bank Munich became independent.

1950 possessed the urban savings bank 24 branches. First consumer loans were disbursed. 1968-1971 was changed over all branches to EDP and networked. Since 1972 Institut leads officially the designation municipal savings bank Munich.

2004 published the municipal savings bank Munich as the first Bavarian savings bank of mortgage bonds.

Related links

• Internet appearance of the municipal savings bank Munich

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