DZ Bank
![]() | You can helpexpand this article with text translated fromthe corresponding articlein German.(August 2016)Click [show] for important translation instructions.
|
This articleneeds additional citations forverification.(August 2016) |
![]() | |
![]() Westend TowerinFrankfurt,Germany | |
Company type | Private.Aktiengesellschaft |
---|---|
Industry | Banking |
Predecessor |
|
Founded | 2001 |
Headquarters | Frankfurt ,Germany |
Area served | Germany |
Key people | Cornelius Riese (CEO)[1] Henning Deneke-Jöhrens (ChairmanSupervisory Board) |
Products | Banking services |
Revenue | ![]() |
![]() | |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | ![]() |
Website | dzbank |
DZ Bank AG(German pronunciation:[deːˈt͡sɛtbaŋkaːɡeː] ) is thesecond largest bank in Germanyby asset size and the central institution for around 700cooperative banksand their around 7,200 branch offices.[3]Within thatBundesverband der Deutschen Volksbanken und Raiffeisenbanken,which is one of Germany's largestprivate sectorfinancial service organizations and manages assets of around 1.175 trillion euros,[3]DZ Bank functions both as a central institution and as a corporate and investment bank.
DZ Bank is anacronymforDeutsche Zentral-Genossenschaftsbank(literally "German CentralCooperative Bank").
As a holding, the DZ Bank Group defines itself primarily as a service provider for local cooperative banks and their 30 million or so clients. The DZ Bank Group includes:Bausparkasse Schwäbisch Hall,a building society; DZ HYP (German pronunciation:[deːt͡sɛtˈhypaːˌɡeː] ), a provider of commercial real estate finance; DZ Privatbank Gruppe; R+V Versicherung, an insurance company; TeamBank, a provider of consumer finance;Union InvestmentGroup, an asset management company; VR Smart Finanz; and various other specialized institutions.
DZ Bank, headquartered inFrankfurt,Germany, is a member of CIBP,EACB,theEuro Banking Association,and Unico. It maintainsbranches,subsidiaries and representative offices in key financial centers and economic regions worldwide. TheDZ Bank buildingin Berlin, located at Pariser Platz 3, was designed by architectFrank Gehry.
DZ Bank also has one of the most significant collections of contemporary artistic photography which today comprises over 6,000 works by more than 550 artists.
In 2016 DZ Bank was merged withWGZ Bank,the central institute of the cooperative banks of both the Rheinland (Rhineland) and Westfalen (Westphalia).[4]
DZ Bank has been designated as a Significant Institution since the entry into force ofEuropean Banking Supervisionin late 2014, and as a consequence is directly supervised by theEuropean Central Bank.[5][6]
Investments
[edit]DZ Bank is a shareholder of Canadian oil and gas companyTC Energy,which is behind the controversialCoastal GasLink Pipelineslated to be built on uncededWet'suwet'enNation territory in NorthernBritish Columbia.DZ Bank increased their stake on 31 March 2020 from 1.22 million to 4.27M shares, an increase of ~250%.[7]
See also
[edit]References
[edit]- ^"Pressrelease - DZ BANK sets its personnel course for the future".dzbank.com.Retrieved1 July2024.
- ^abcdef"2023 Annual Report"(PDF).dzbank.com.Retrieved20 June2024.
- ^ab"Cooperative Financial Network".bvr.de.Retrieved20 June2024.
- ^"DZ BANK's AGM: shareholders vote in favor of merger with WGZ BANK".DZ Bank. 22 June 2016.Retrieved1 August2016.
- ^"The list of significant supervised entities and the list of less significant institutions"(PDF).European Central Bank.4 September 2014.
- ^"List of supervised entities"(PDF).European Central Bank.1 January 2023.
- ^"TRP Institutional Holdings".NASDAQ.Retrieved9 August2020.
External links
[edit]![](https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png)