Stadtsparkasse München is one of the oldest

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s in

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

founded in 1824. It is an institution under the public law and the legal basis is the Savings Banks Act,

Bavaria Bavaria ( ; ), officially the Free State of Bavaria (german: Freistaat Bayern, link=no ), is a state in the south-east of Germany. With an area of , Bavaria is the largest German state by land area, comprising roughly a fifth of the total lan ...

n Savings Bank Regulations, and Articles of Association issued by the City Council.

Services

The Stadtsparkasse provides the universal

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

business. It is a market leader in the private customer area in relation to main bank connections. Measured by the average

balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business ...

, it is the largest Bavarian and fifth largest German

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

. The Stadtsparkasse cooperates with the LBS Bayerische Landesbauparkasse,

DekaBank DekaBank Deutsche Girozentrale is the central provider of asset management and capital market solutions of the Sparkassen-Finanzgruppe. It is registered in both Frankfurt and Berlin, with main operational headquarters in Frankfurt. It traces its ...

and Versicherungskammer Bayern, etc.

Charity

In 2014 it donated about 4.3 million euros for the social and cultural projects via its 6 foundations: *Kundenstiftung "Gemeinsam Gutes tun" *Kinder- und Jugendstiftung der Stadtsparkasse München *Stiftung Soziales München *Kulturstiftung *Stiftung Straßenkunst *Altenhilfestiftung.

References

''Article contains translated text from Stadtsparkasse München on the

German Wikipedia The German Wikipedia (german: Deutschsprachige Wikipedia) is the German-language edition of Wikipedia, a free and publicly editable online encyclopedia. Founded on March 16, 2001, it is the second-oldest Wikipedia (after the English Wikipedia), ...

retrieved on 7 March 2017.''

External links

Homepage
Banks of Germany Public finance of Germany Banks established in 1824 1824 establishments in Europe Financial services companies based in Munich {{Germany-company-stub