DekaBank (Germany)

DekaBank Deutsche Girozentrale is the centralWertpapierhaus (Provider of Asset Management and Capital Market Solutions) of the German Savings Bank Finance Group. Registered in Frankfurt am Main and Berlin, its headquarters is based in Frankfurt.

DekaBank
TypeAnstalt des öffentlichen Rechts
IndustryFinancial services
Founded1918 [1]
HeadquartersFrankfurt am Main, Germany
Key people
Helmut Schleweis (Chairman)
Georg Stocker (CEO)
72,281,961.4 euro (2017) 
Total assets€113,175 billion (2014)[2]
Number of employees
4,716 (2017)
Websitewww.deka.de

DekaBank was formed in 1999 after the merger of Deutsche Girozentrale Deutsche Kommunalbank and DekaBank GmbH. Together with its subsidiaries it forms the Deka Group, making it one of the largest securities services providers in Germany.

Business Concept

DekaBank is the central asset manager of the Savings Banks Group. As a central provider, the bank bundles its competencies in asset management and financial services in its five business areas of asset management, real estate, services, capital markets and financing. Retail and institutional clients and investors can choose from a wide range of investment products and services. DekaBank cooperates closely with local savings banks and German Landesbanken. Additionally, it is represented internationally with branches, subsidiaries and representative offices in eleven countries. The European Central Bank and the Federal Financial Supervisory Authority BaFin both supervise the bank.

History

In 2015, Helaba’s leadership proposed a merger with Deka.[3] In May 2019, both entered into exploratory talks on a merger.[4] Later that year, Deka’s supervisory board instructed management to explore “deeper cooperation” with the bank from January 2020.[5]

Notable activities

In August 2011, Deka divested all its equity holdings, reflecting what was lining up to be the worst August for world stocks since 1998.[6] In 2016, Deka was one of Germany's main issuers of credit-linked notes.[7]

In 2015, Deka joined Lloyds Bank and Qatar National Bank in a £705 million senior loan which financed the Qatar Investment Authority’s acquisition of 8 Canada Square in Canary Wharf.[8]

In 2017, amid the Volkswagen emissions scandal, a German court named Deka as lead plaintiff for 1,470 damages claims against Volkswagen totaling 1.9 billion euros ($2 billion).[9]

References
  1. DekaBank Company Profile Retrieved 25 April 2015
  2. DekaBank Key Figures Retrieved 25 April 2015
  3. Andreas Kroener (August 26, 2015), German Helaba chief floats idea of merger with Deka Bank Reuters.
  4. Klaus Lauer and Arno Schuetze (May 16, 2019), German landesbanks Helaba and Deka consider tie-up: sources Reuters.
  5. Patricia Uhlig, Klaus Lauer and Arno Schuetze (December 5, 2019), German bank Deka makes first move toward possible merger with Helaba Reuters.
  6. Jeremy Gaunt (August 31, 2011), Investors slash equities in August melt - Reuters poll Reuters.
  7. Jonathan Gould and Alexander Huebner (July 28, 2016), Germany to ban sale of credit-linked notes to retail investors Reuters.
  8. Judith Evans (January 21, 2016), Lloyds steps up commercial property lending Financial Times.
  9. Sabine Wollrab (March 8, 2017), German court names lead plaintiff in Volkswagen diesel test case Reuters.


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