DZ Bank AG () is the
second largest bank in Germany by asset size
and the central institution for around 800
cooperative banks and their around 8,500 branch offices. Within the
German Cooperative Financial Group, which is one of Germany's largest
private sector financial service organizations, DZ Bank functions both as a central institution and as a corporate and investment bank.
DZ Bank is an
acronym
An acronym is a word or name formed from the initial components of a longer name or phrase. Acronyms are usually formed from the initial letters of words, as in ''NATO'' (''North Atlantic Treaty Organization''), but sometimes use syllables, as ...
for Deutsche Zentral-Genossenschaftsbank (literally "German Central
Cooperative Bank").
As a holding, the DZ Bank Group defines itself primarily as a service provider for 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; DZ 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
Union Investment (; formal name Union Asset Management Holding AG) is the investment arm of the DZ Bank Group and part of the cooperative financial services network. It was founded in 1956 and is headquartered in Frankfurt.
Trading in open-end ...
Group, an asset management company; VR Leasing; and various other specialized institutions.
DZ Bank, headquartered in
Frankfurt
Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on it ...
, Germany, is a member of CIBP,
EACB
The European Association of Co-operative Banks (EACB) (GEBC in French) is the leading trade association for the co-operative banking sector with 27 member institutions and co-operative banks located in 22 countries worldwide. As the representative ...
, the
Euro Banking Association, and Unico. It maintains
branches, subsidiaries and representative offices in key financial centers and economic regions worldwide. The
DZ Bank building
The DZ Bank building (formerly DG Bank building) is an office, conference, and residential building located at Pariser Platz 3 in Berlin. It was designed by architect Frank Gehry and engineered by Hans Schober of Schlaich Bergermann & Partne ...
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.
In 2016 DZ Bank was merged with
WGZ Bank, the central institute of the cooperative banks of both the Rheinland (Rhineland) and Westfalen (Westphalia).
Investments
DZ Bank is a shareholder of Canadian oil and gas company
TC Energy
TC Energy Corporation (formerly TransCanada Corporation) is a major North American energy company, based in the TC Energy Tower building in Calgary, Alberta, Canada, that develops and operates energy infrastructure in Canada, the United States, ...
, which is behind the controversial
Coastal GasLink Pipeline slated to be built on unceded
Wet'suwet'en Nation territory in Northern
British Columbia
British Columbia (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, for ...
. DZ Bank increased their stake on 31 March 2020 from 1.22 million to 4.27M shares, an increase of ~250%.
See also
*
German Cooperative Financial Group
*
Bundesverband der Deutschen Volksbanken und Raiffeisenbanken
References
External links
*
*
Annual Report - DZ BANK Group
{{Members of Euro Banking Association
Banks based in Frankfurt
Cooperative banks of Germany
Banks under direct supervision of the European Central Bank