Deutsche Bank (which literally means “German Bank”) is a German global banking and finance company, that operates out of a variety of countries across the world. Located in Frankfurt, Germany this massive bank has been around for a number of years. Getting its start in 1870 in Berlin, The Deutsche Bank has now become one of the largest banks in the entire world. In fact, in 2013 they saw €31.91 billion Euros in revenue. This bank has seen a lot of things happen throughout its years, from WWI and WWII to the more recent financial crisis, however Deutsche Bank remains after all this time. We are going to take a look at a few different things that you probably didn’t know about this massive global bank.
5. They have offices in over 25 different nations
Deutsche Bank has a multitude of offices that are located across the globe in major cities. These cities are typically the major financial cities of that nation. Deutsche Bank has offices in New York, Tokyo, Paris, London, Madrid, Dubai, Singapore, Bangkok, Sydney, and Moscow among others. Their head offices are in The Deustche Bank Twin Towers located in Frankfurt.
4. The are the second largest foreign exchange dealer
Currently Deutsche Bank controls about 15.67% of the global market share for exchanging foreign currencies. For many years they used to be number 1 however they have recently been overtaken by Citi Bank.
3. The Espionage Scandal
It has somewhat recently come out that Deutsche Bank was spying on a variety of people from the years of 2001 to 2007. The bank was “keeping tabs” and investigating a number of people who have criticized The Deutsche Bank, or who were against the bank. The bank has since changed leadership and has apologized and condemned the acts of espionage that were performed.
2. The reported a 1.2 billion pre-tax loss for last year
The past financial year was not to good for Deutsche Bank as the reported a large loss of €1.2 billion euros ($1.6 billion USD). It was estimated that Deutsche Bank would experience a decent profit after all the expense were covered, however those proved to be incorrect.
1. Ties to Auschwitz
During the rise of Hitler in Germany following the end of WWI, German saw a great economic downturn. Deutsche Bank helped “aryanize” and close down Jewish run businesses during the Third Reich and also helped fund the Nazi secret police, the Gestapo. It was revealed later that Deutsche Bank was responsible for loaning the funds to the Third Reich to construct the concentration camp Auschwitz. This has obviously caused a fair amount of outcry and in 1999, along with a few other German organizations, Deutsche paid $5.2 billion dollars for compensating lawsuits brought on by survivors of the Holocaust.
Photo by Dan Kitwood
