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%.

References

External links

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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

Investments

See also

References

External links