Degussa Bank
{{Short description|German universal bank}}
{{Infobox company
| name = Degussa Bank
| logo = 200px
| type = Aktiengesellschaft
| industry = Universal bank
| location = Frankfurt, Germany
| products =
| assets = € 6,106 million {{small|(2018)}}{{Cite web|url=https://www.degussa-bank.de/documents/10180/316752/Gesch%C3%A4ftsbericht+2018/af2f7e1f-0809-7f67-925a-8c855c90617d|title=Geschäftsbericht 2018|website=Degussa Bank|access-date=30 July 2019}}
| revenue =
| parent = {{ubl|OLB {{smaller|(2024–present)}}}}
| members =
| num_employees = 687 {{small|(2018)}}
| homepage = {{URL|http://www.degussa-bank.de/}}
}}
The Degussa Bank AG, based in Frankfurt, is a German universal bank.{{Cite web|url=https://www.relbanks.com/europe/germany/degussa-bank|title=Degussa Bank AG|date=7 December 2017|website=relbanks.com|access-date=9 December 2018}} With a balance sheet total of €6.106 million in 2018, it has more than 250 branches in Germany, mainly in industrial, business and technology parks as well as at corporate locations.
On April 30, 2024, it was announced that Oldenburgische Landesbank (OLB) had completed the acquisition of the Frankfurt-based financial institution.{{Cite web|url=https://www.eqs-news.com/news/corporate/olb-successfully-completes-acquisition-of-degussa-bank/2045417|title=OLB successfully completes acquisition of Degussa Bank |work=EQS News|date=30 April 2024 |access-date=2024-05-27|language=en}}
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,{{Cite web|url=http://en.boerse-frankfurt.de/funds/Degussa-Bank-Portfolio-Privat-Aktiv|title= Degussa Bank Portfolio Privat Aktiv|website=BÖRSE FRANKFURT|access-date=9 December 2018}} Berlin,{{Cite web|url=https://www.boerse-berlin.com/index.php/Funds?isin=DE0008490673|title=DEGUSSA-BANK UNIVERSAL-RENTENFONDS|website=BÖRSE BERLIN|access-date=9 December 2018}} Munich and Stuttgart.{{Cite web|url=https://www.boerse-stuttgart.de/en/DEGUSSA-BANK-UNIV-RENTENFNDS-funds-DE0008490673|title=Degussa Bank-Univ-Rentenfnds|website=BÖRSE STUTTGART|access-date=9 December 2018|archive-date=10 December 2018|archive-url=https://web.archive.org/web/20181210020002/https://www.boerse-stuttgart.de/en/DEGUSSA-BANK-UNIV-RENTENFNDS-funds-DE0008490673|url-status=dead}}
History
In 1873 Degussa (Deutsche Gold- und Silber-Scheide-Anstalt) was founded.{{Cite web|url=https://www.faz.net/aktuell/rhein-main/geschaeft-mit-goldbarren-die-degussa-ist-wieder-da-11575621.html|title=Die Degussa ist wieder da|last=Köhler|first=Manfred|date=22 December 2011|website=Frankfurter Allgemeine|access-date=9 December 2018}} 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.{{Cite web|url=https://www.banken-auskunft.de/banken/degussa|title=Degussa, die deutsche Gold- und Silber-Scheide-Anstalt|website=Banken-Auskunft|access-date=9 December 2018}}
From 2002 until the end of 2006, the institute, as a subsidiary of ING-DiBa AG, belonged to the Dutch ING Group.
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.{{Cite web|url=https://firmenkarten.degussa-bank.de/en/about-us|title=Willkommen in der WorksiteBank|website=Degussa Bank|access-date=9 December 2018}}
In 2014, the bank changed its legal form from a limited liability company to a Corporation.{{Cite web|url=https://www.company-services.de/de/info/ueber_uns.html|title=Degussa Bank Historie|website=Degussa Bank|access-date=9 December 2018}}
On April 30, 2024, the company was acquired by Oldenburgische Landesbank (OLB).
Further information
The bank is a member of the deposit insurance fund of the Federal Bundesverband deutscher Banken.
References
{{Reflist}}
External links
- [http://www.degussa-bank.de/ Official Website]
{{Portal|Banks}}
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Category:Banks based in Frankfurt
Category:German companies established in 1873
Category:Banks established in 1873
Category:2024 mergers and acquisitions
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