Degussa Bank
| Company type | Aktiengesellschaft |
|---|---|
| Industry | Universal bank |
| Founded | 1873 |
| Headquarters | Frankfurt, Germany |
| Total assets | €6,106 million (2018) |
Number of employees | 687 (2018) |
| Parent |
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| Website | www |
The Degussa Bank AG, with its headquarters situated in Frankfurt, is a German universal bank that reported total assets amounting to €6.106 billion in 2018. It maintains a network of more than 250 branches throughout Germany, predominantly positioned within industrial zones, business and technology parks, as well as corporate premises.
On April 30, 2024, the acquisition of Degussa Bank by Oldenburgische Landesbank (OLB) was finalized.
Business areas
Degussa Bank focuses on two primary market segments: retail banking and corporate banking. Its retail operations primarily cater to employees working at partner companies located within corporate campuses. The corporate segment provides a range of financial products such as corporate credit cards and employee share ownership programs.
The bank works in close partnership with local enterprises near its branch offices to create customized solutions, including services like corporate travel management.
Shares of Degussa Bank are listed and traded on stock exchanges in Frankfurt, Berlin, Munich, and Stuttgart.
History
Established in 1873 under the name Deutsche Gold- und Silber-Scheide-Anstalt (Degussa), the institution was initially authorized to perform banking functions linked to precious metals trading. By 1936, it gained recognition as a foreign exchange bank, followed by designation as a foreign trade bank in 1947. In 1979, Degussa Bank was separated from Degussa AG and reconstituted as a GmbH based in Frankfurt am Main.
Between 2002 and 2006, Degussa Bank operated as a subsidiary of ING-DiBa AG, part of the Dutch ING Group. Presently, Degussa Bank AG acts as the parent entity of the Degussa Bank Group and is not under majority ownership; key shareholders include ERSTE NEUE Christian Olearius Beteiligungsgesellschaft mbH and Degussa Poolgesellschaft mbH & Co. KG, both headquartered in Hamburg.
In 2014, the bank changed its legal status from a limited liability company to a stock corporation. The takeover by Oldenburgische Landesbank (OLB) was completed on April 30, 2024.
Further information
Degussa Bank participates in the deposit protection scheme managed by the Federal Bundesverband deutscher Banken.