Deutsche Bank was founded in Berlin in 1870 as a specialist bank for financing foreign trade and promoting German exports. Its first oversea-offices opened in Shanghai in 1872 and London in 1873 followed by South American offices between 1874 and 1886. In 1938, German bank Mendelssohn & Co. was incorporated, and acquired other banks that fell into German hands during the occupation of Eastern Europe.
About Deutsche Bank in brief
Deutsche Bank was founded in Berlin in 1870 as a specialist bank for financing foreign trade and promoting German exports. Its first oversea-offices opened in Shanghai in 1872 and London in 1873 followed by South American offices between 1874 and 1886. The bank’s first domestic branches, inaugurated in 1871 and 1872, were opened in Bremen and Hamburg. As of 2017–2018, Deutsche Bank was the 21st largest bank in the world by total assets. The company is a universal bank with three major divisions: the Private & Commercial Bank, the Corporate & Investment Bank, and Asset Management. Its network spans 58 countries with a large presence in Europe, the Americas, and Asia. In 1938, German bank Mendelssohn & Co. was incorporated, and acquired other banks that fell into German hands during the occupation of Eastern Europe. During World War II, the bank became responsible for managing managing facilities in Bohemian Union Bank in Prague, with branches in Slovakia, the Protectorate of Yugoslavia, the National Bank of Greece in Athens, the Creditanstalt de Amsterdam in Amsterdam, and the Deutsch-Bulgarische Kreditbank in Bulgaria. It also provided the Gestapo with funds used to build the Auschwitz camp and the nearby IG Farben camp in Austria and Hungary, and loaned funds to build a nearby train station. It is the largest German banking institution, it is a component of the DAX stock market index, and is listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
It was founded by three men: Georg Siemens, whose father’s cousin had founded Siemens and Halske; Adelbert Delbrück and Ludwig Bamberger. It has been one of the most successful banks in the history of the world, with a market value of more than $1.2 trillion. It had its headquarters in Frankfurt, Germany, and has branches in Munich, Dresden, Leipzig, Hamburg, Berlin, Paris, and New York. Its investment banking operations often command substantial deal flow, and it has a large investment banking operation in the United States, with offices in Washington, D.C., New York, London, and Singapore. It is a major player in the global investment banking industry, having invested in the likes of Goldman Sachs, Morgan Stanley, BNP Paribas, Barclays, and UBS, among many others. In 2008, it was the second-largest bank by assets, after the U.S. investment bank, after Credit Suisse Group. The German bank was involved in 363 such confiscations by the Nazis in 1938, according to historians. It took part in the aryanization of businesses to its own historians, and in subsequent years, it acquired other German banks that had fallen into the hands of German Gestapo and Gestapo during the war. In 2009, it purchased the state’s share of Universum Film Aktiengesellschaft. In 1926, it assisted in the merger of Daimler and Benz.