DZ Bank AG is the fourth largest bank in Germany by asset size and the central institution for more than 900 co-operative banks and their 12,000 branch offices. Within the Volksbanken Raiffeisenbanken Co-operative financial network, which is one of Germany's largest private sector financial service organisations, DZ Bank functions both as a central institution and as a corporate and investment bank.
DZ Bank is an acronym for Deutsche Zentral-Genossenschaftbank (literally "German Central Co-operative Bank").
As a holding, the DZ Bank Group defines itself primarily as a service provider for the local cooperative banks and their 30 million or so clients. The DZ Bank Group includes DVB Bank, a transportation finance bank; Bausparkasse Schwäbisch Hall, a building society; DG HYP, a provider of commercial real estate finance; DZ PRIVATBANK Gruppe; R+V Versicherung, an insurance company; TeamBank, a provider of consumer finance; Union Investment Group, an asset management company; VR LEASING; and various other specialized institutions.
DZ Bank is a member of CIBP, EACB, the Euro Banking Association and Unico.
DZ Bank is headquartered in Frankfurt am Main, Germany and maintains branches, subsidiaries and representative offices in key financial centers and economic regions worldwide. The DZ Bank building in Berlin, located at Pariser Platz 3, was designed by architect Frank Gehry.
DZ Bank also has one of the most significant collections of contemporary artistic photography which today comprises over 6,000 works by more than 550 artists.
Famous quotes containing the word bank:
“Life is a long Dardenelles, My Dear Madam, the shores whereof are bright with flowers, which we want to pluck, but the bank is too high; & so we float on & on, hoping to come to a landing-place at last—but swoop! we launch into the great sea! Yet the geographers say, even then we must not despair, because across the great sea, however desolate & vacant it may look, lie all Persia & the delicious lands roundabout Damascus.”
—Herman Melville (1819–1891)