DekaBank (Germany)

DekaBank is the Wertpapierhaus (Provider of Asset Management and Capital Market Solutions) of the German Savings Bank Finance Group (DSGV). Together with its subsidiaries it forms the Deka Group, which has total customer assets of around EUR 220 billion (as of 31 December 2014) and around four million securities accounts, making it one of the largest securities services providers in Germany. It provides retail and institutional investors access to a wide range of investment products and services.[1]

DekaBank
Anstalt des öffentlichen Rechts
IndustryFinancial services
Founded1918 [1]
HeadquartersFrankfurt am Main, Germany
Key people
Georg Fahrenschon (Chairman)
Michael Rüdiger (CEO)
72,281,961.40 euro[2] (2017) 
Total assets€113,175 billion (2014)[3]
Number of employees
4,183 (2014)
Websitewww.dekabank.de

History

In 2015, Helaba’s leadership proposed a merger with Deka.[4] In May 2019, both entered into exploratory talks on a merger.[5] Later that year, Deka’s supervisory board instructed management to explore “deeper cooperation” with the bank from January 2020.[6]

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.[7] In 2016, Deka was one of Germany's main issuers of credit-linked notes.[8]

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.[9]

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).[10]

References
  1. DekaBank Company Profile Retrieved 25 April 2015
  2. https://web.archive.org/https://www.deka.de/site/dekade_deka-gruppe_site/get/documents_E802589550/dekade/medienpool_dekade/deka_gruppe/de/Dokumente/Investor%20Relations/Finanzpublikationen/Einzelabschluss/Einzelabschluss%202017.pdf; retrieved: 28 August 2018.
  3. DekaBank Key Figures Retrieved 25 April 2015
  4. Andreas Kroener (August 26, 2015), German Helaba chief floats idea of merger with Deka Bank Reuters.
  5. Klaus Lauer and Arno Schuetze (May 16, 2019), German landesbanks Helaba and Deka consider tie-up: sources Reuters.
  6. Patricia Uhlig, Klaus Lauer and Arno Schuetze (December 5, 2019), German bank Deka makes first move toward possible merger with Helaba Reuters.
  7. Jeremy Gaunt (August 31, 2011), Investors slash equities in August melt - Reuters poll Reuters.
  8. Jonathan Gould and Alexander Huebner (July 28, 2016), Germany to ban sale of credit-linked notes to retail investors Reuters.
  9. Judith Evans (January 21, 2016), Lloyds steps up commercial property lending Financial Times.
  10. Sabine Wollrab (March 8, 2017), German court names lead plaintiff in Volkswagen diesel test case Reuters.


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