The Bank was listed on the Frankfurt Exchange and today is wholly-owned by DZ BANK. About 330 employees work at the offices in Frankfurt/Main, Amsterdam, London, Curaçao, Singapore and Tokyo.[1]
Share of the Deutsche Verkehrs-Kredit-Bank AG, issued October 1925
The institute was founded on 18 May 1923 as Deutsche Verkehrs-Kredit-Bank AG (German traffic credit-Bank AG; DVKB) by several banks and industrial companies, initially to freight deferrals for the German Reichsbahn.
After World War II, DVKB, specialized in cargo deferral, which was fixed by law. 1949 after the unification of the two main locations in Frankfurt and Hamburg, the head office in Frankfurt was established. It also operated numerous branches in other German cities.
In 1988, the DVKB was placed on the stock exchange, the German Federal Railways held 75.1 percent stake. In 1991, it was named Deutsche Verkehrs-Bank AG (German traffic Bank AG), in 1997 named Deutsche VerkehrsBank AG (German Transport AG) and 2002 changed its name again to DVB Bank AG. Since 1 October 2008, it has been trading as DVB Bank SE.[2]
As a consequence of the financial crisis, DVB suffered from exposure to a prolonged slump in the global container shipping industry. DZ Bank entered talks to sell DVB to Japan's Mitsubishi UFJ Financial Group in 2015, but no deal materialized at the time.[3]
In 2017, DZ Bank bought out minority shareholders in DVB, facilitating a sale of the business.[4] The following year, it put individual tranches of DVB up for sale after failing to find a buyer for the business as a whole, partly due to low offers and its pressured shipping business.[5] By early 2019, Mitsubishi UFJ Financial Group agreed to buy the entire DVB aviation financing portfolio, which stood at 5.6 billion euros ($6.37 billion) at the time.[6]
ShareholdersEdit
As part of a squeeze-out under stock corporation law, the shares of all DVB minority shareholders were transferred to DZ Bank in August 2017. Subsequently, trading in DVB Bank SE shares on the Frankfurt Stock Exchange was discontinued.[7]
FinancialsEdit
Consolidated net income before taxes amounted to EUR-294.8 million in 2020. Total assets totaled EUR10.2 billion and DVB's nominal volume of customer lending was EUR3.9 billion.[8]
ReferencesEdit
^"Profile". 9 February 2022. Retrieved 9 February 2022.
^. 26 August 2015. Archived from the original on 23 August 2015. Retrieved 26 August 2015.
^Arno Schuetze and Jonathan Saul (December 12, 2017), Germany's DZ Bank moves ahead with plans to sell DVB unit -sources Reuters.
^Jonathan Saul and Arno Schuetze (September 27, 2017), Exclusive: German shipping bank DVB accelerates sale plans Reuters.
^Jonathan Saul and Arno Schuetze (October 19, 2018), Germany's DZ Bank in final stage of selling parts of DVB - sources Reuters.
^Arno Schuetze (March 1, 2019), Japan's MUFG to buy German DZ Bank's aviation finance arm Reuters.
^"Equity & DVB share". 9 February 2022. Retrieved 9 February 2022.
^"DVB's 2020 Annual Report" (PDF). 9 February 2022. Retrieved 9 February 2022.
bank, part, bank, group, specialist, international, transportation, finance, based, frankfurt, main, germany, setypesocietas, europaeaisinde0008045501industrybankingfounded1923headquartersfrankfurt, germanyarea, servedworldwidekey, peopleralf, bedranowsky, rai. DVB Bank SE is part of the DZ BANK Group and a specialist in international transportation finance based in Frankfurt Main Germany DVB Bank SETypeSocietas EuropaeaISINDE0008045501IndustryBankingFounded1923HeadquartersFrankfurt GermanyArea servedWorldwideKey peopleRalf Bedranowsky CEO Rainer JakubowskiProductsFinancial servicesAUM 10 2 billion 2020 OwnerDZ BANK 100 Number of employees329 2020 Websitewww wbr dvbbank wbr comThe Bank was listed on the Frankfurt Exchange and today is wholly owned by DZ BANK About 330 employees work at the offices in Frankfurt Main Amsterdam London Curacao Singapore and Tokyo 1 Contents 1 History 2 Shareholders 3 Financials 4 References 5 External linksHistory Edit Share of the Deutsche Verkehrs Kredit Bank AG issued October 1925The institute was founded on 18 May 1923 as Deutsche Verkehrs Kredit Bank AG German traffic credit Bank AG DVKB by several banks and industrial companies initially to freight deferrals for the German Reichsbahn After World War II DVKB specialized in cargo deferral which was fixed by law 1949 after the unification of the two main locations in Frankfurt and Hamburg the head office in Frankfurt was established It also operated numerous branches in other German cities In 1988 the DVKB was placed on the stock exchange the German Federal Railways held 75 1 percent stake In 1991 it was named Deutsche Verkehrs Bank AG German traffic Bank AG in 1997 named Deutsche VerkehrsBank AG German Transport AG and 2002 changed its name again to DVB Bank AG Since 1 October 2008 it has been trading as DVB Bank SE 2 As a consequence of the financial crisis DVB suffered from exposure to a prolonged slump in the global container shipping industry DZ Bank entered talks to sell DVB to Japan s Mitsubishi UFJ Financial Group in 2015 but no deal materialized at the time 3 In 2017 DZ Bank bought out minority shareholders in DVB facilitating a sale of the business 4 The following year it put individual tranches of DVB up for sale after failing to find a buyer for the business as a whole partly due to low offers and its pressured shipping business 5 By early 2019 Mitsubishi UFJ Financial Group agreed to buy the entire DVB aviation financing portfolio which stood at 5 6 billion euros 6 37 billion at the time 6 Shareholders EditAs part of a squeeze out under stock corporation law the shares of all DVB minority shareholders were transferred to DZ Bank in August 2017 Subsequently trading in DVB Bank SE shares on the Frankfurt Stock Exchange was discontinued 7 Financials EditConsolidated net income before taxes amounted to EUR 294 8 million in 2020 Total assets totaled EUR10 2 billion and DVB s nominal volume of customer lending was EUR3 9 billion 8 References Edit Profile 9 February 2022 Retrieved 9 February 2022 Corporate history 26 August 2015 Archived from the original on 23 August 2015 Retrieved 26 August 2015 Arno Schuetze and Jonathan Saul December 12 2017 Germany s DZ Bank moves ahead with plans to sell DVB unit sources Reuters Jonathan Saul and Arno Schuetze September 27 2017 Exclusive German shipping bank DVB accelerates sale plans Reuters Jonathan Saul and Arno Schuetze October 19 2018 Germany s DZ Bank in final stage of selling parts of DVB sources Reuters Arno Schuetze March 1 2019 Japan s MUFG to buy German DZ Bank s aviation finance arm Reuters Equity amp DVB share 9 February 2022 Retrieved 9 February 2022 DVB s 2020 Annual Report PDF 9 February 2022 Retrieved 9 February 2022 External links Edit Banks portalOfficial website Documents and clippings about DVB Bank in the 20th Century Press Archives of the ZBW Retrieved from https en wikipedia org w index php title DVB Bank amp oldid 1127868257, wikipedia, wiki, book, books, library,
