Deutsche Bank

(redirected from Deutsche Bank AG)
Also found in: Acronyms.
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Deutsche Bank

 

the largest banking concern in the Federal Republic of Germany.

The Deutsche Bank was founded in Berlin in 1870 with a capital stock of 15 million marks. The bank absorbed dozens of other banks; among these was the Disconto-Gesellschaft, a major bank taken over in 1929. The Deutsche Bank played a significant role in the development of German imperialism and in the financing of fascist aggression. Together with the Dresdener Bank, the Deutsche Bank participated actively in the plunder of countries occupied by the fascists.

With the help of the Western powers, ten regional successor banks were established in 1947 based on existing branches of the Deutsche Bank in West Germany. The new banks were permitted to operate only within the boundaries of their respective states. In 1952 the entire territory of the Federal Republic of Germany was divided into three banking regions—north, west, and south—and in place of the previous ten successor banks to the Deutsche Bank, three banks were formed accordingly: the Northern Deutsche Bank, the Western Deutsche Bank, and the Southern Deutsche Bank. In 1957 these were merged into a single bank.

The Deutsche Bank is the nucleus of the financial group that includes the following concerns: Siemens, Mannesmann, Klöckner, Haniel, Hoeschst, Henkel, Reemtsma, Horten, DEMAG, BASF, Bayer, Allianz, and Glanzstoff. This group includes the leading electrical engineering, metallurgical, machine-building, chemical, and mining concerns, as well as the largest trading and insurance monopolies. The enterprises owned by concerns belonging to the financial group headed by the Deutsche Bank employ more than 1 million production and service workers, with total annual sales in excess of 100 billion marks (as of late 1971). The group controls about one-third of all the country’s outstanding capital shares.

The Deutsche Bank is closely tied to the Morgan, Rockefeller, Warburg, and Kuhn and Loeb banking groups in the United States and to the Rothschild group in a number of Western European countries. The Deutsche Bank has long-standing ties with the largest financial group in France, which is headed by the Banque de Paris et des Pays-Bas, as well as with Dutch and Belgian monopoly capital. In 1970 the bank participated in 24 credit institutions within the country and 21 abroad. The main office of the Deutsche Bank is located in Frankfurt am Main.

By the end of 1972, total capital of the Deutsche Bank had reached 640 million marks, compared with 200 million marks in 1957. During these years, the bank’s total balance increased from 8.4 billion marks to 40.2 billion, deposits rose from 7.1 billion marks to 37.1 billion, and discounted bills and loans rose from 6.3 billion to 31.9 billion marks.

V. N. SHENAEV

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
- Issuer Default Rating and deposit rating of Deutsche Bank AG (BBB+/Negative/F2) as of 21 June 2018
Established in 1959, Deutsche Bank AG Cairo's Representative Office was the first physical presence for the Bank in MENA.
possible downgrade of Deutsche Bank AG that commenced on 6 May 2014.
In a disclosure to the Philippine Stock Exchange on Monday, BDO said it had signed a definitive agreement for the acquisition of the trust business of Deutsche Bank AG's Manila Branch comprising trust, fiduciary and investment management activities.
BEIRUT: Lebanon hired Standard Chartered Plc, Deutsche Bank AG and Fransa Invest Bank SAL to manage the refinancing of about $2 billion in Eurobonds maturing next year, Minister of Finance Mohammad Safadi said.
PKN Orlen SA (PKN.WA), a Poland-based crude oil refining company, has acquired crude oil reserves it sold to Deutsche Bank AG's (NYSE: DB) Polish unit last year.
Germany's Deutsche Bank AG (NYSE: DB) (DBK.DE) is planning to issue a seven- year, EUR1bn covered bond issuance, Dow Jones has reported, citing one of the banks managing the transaction.
Bahrain's Gulf Finance House plans to raise capital by $300 million through equity-linked convertible murabahas or similar instruments, and has hired Deutsche Bank AG as a structuring agent.
Deutsche Bank AG (NYSE: DB), the largest bank in Germany, said in a statement that it has hired Greg Sommer away from Citigroup, Inc (NYSE: C) who will join the company as managing director and head of energy mergers and acquisitions for the Americas.
In a statement, Yapi Kredi said that bank's board also decided to authorize Citibank Global Markets Limited, Deutsche Bank AG and Unicredit Bank AG for the loan.
Shares in the Deutsche Post unit, in which Germany's largest bank Deutsche Bank Deutsche Bank AG (NYSE: DB) (DBK.DE) is taking an initial stake of just under 30 percent, has eased 1.5 percent in early trading on Friday, while the German blue-chip index rose 0.3 percent, the report said.
Byline: Deutsche Bank AG announced yesterday the establishment of Deutsche Securities and Services (DSS) in Dubai.

Full browser ?