Frankfurt
Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on it ...
credit card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...
business as well as services in the
employee stock ownership
Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Emp ...
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
Corporate travel management is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-car ...
.
The bank is admitted to trading on the stock exchanges in
Frankfurt
Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on it ...
am Main,
Berlin
Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...
,
Munich
Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and Ha ...
In 1873 Degussa ('' Deutsche Gold- und Silber-Scheide-Anstalt'') was founded. 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.
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
(male), (female) en, Hamburger(s),
Hamburgian(s)
, timezone1 = Central (CET)
, utc_offset1 = +1
, timezone1_DST = Central (CEST)
, utc_offset1_DST = +2
, postal ...
, hold more than 25% of the bank.
In 2014, the bank changed its legal form from a
limited liability company
A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of ...
to a
Corporation
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and ...
.
Further information
The bank is a member of the deposit insurance fund of the Federal ''
Bundesverband deutscher Banken
The Association of German Banks (german: Bundesverband deutscher Banken) is the association of private banks in Germany and a key lobby group for Germany's financial sector. In the traditional 3-pillar system of the German banking industry, this r ...