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Sparkasse Zu Lübeck
The Sparkasse zu Lübeck AG, based in Lübeck, is one of five free public savings banks that still exist in Germany. Organizational structure The Sparkasse zu Lübeck AG has been registered in the commercial register since 1 November 2004 as a Corporation, stock corporation. The legal basis for the bank is essentially the ''Kreditwesengesetz'' (KWG) and the ''Sparkassengesetz'' for Schleswig-Holstein. The bodies of the savings bank are the Annual General Meeting, the Supervisory Board and the Vorstand, Management Board. History The savings bank was founded in 1817 under the name "Spar- und Anleih-Kasse" as a dependent ''Gesellschaft zur Beförderung gemeinnütziger Tätigkeit'' (institution of the society for the promotion of charitable activity). The first business day was June 12, 1817. It was held in the now-defunct orphanage near the Lübeck Cathedral. The core task of the new bank was to give the city, which was devastated by the Napoleonic occupation and the following wars ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foundation (nonprofit)
A foundation (also a charitable foundation) is a category of nonprofit organization or charitable trust that typically provides funding and support for other charitable organizations through grants, but may also engage directly in charitable activities. Foundations include public charitable foundations, such as community foundations, and private foundations, which are typically financial endowment, endowed by an individual or family. However, the term "foundation" may also be used by such organizations that are not involved in public grantmaking. Description Legal entities existing under the status of "foundations" have a wide diversity of structures and purposes. Nevertheless, there are some common structural elements. * Legal requirements followed for establishment * Purpose of the foundation * Economic activity * Supervision and management provisions * Accountability and auditing provisions * Provisions for the amendment of the statutes or articles of incorporation * Provisio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Germany
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Covered Bond
Covered bonds are debt securities issued by a bank or mortgage institution and collateralised against a pool of assets that, in case of failure of the issuer, can cover claims at any point of time. They are subject to specific legislation to protect bond holders. Unlike asset-backed securities created in securitization, the covered bonds continue as obligations of the issuer; in essence, the investor has recourse against the issuer and the collateral, sometimes known as "dual recourse". Typically, covered bond assets remain on the issuer's consolidated balance sheet (usually with an appropriate capital charge). As of beginning of 2019 volume of outstanding covered bonds worldwide was euro 2,577 billion, while largest markets were Denmark (€406 bil.), Germany (€370 bil.), France (€321 bil.) and Spain (€232 bil.). History Covered bonds were created in Prussia in 1769 by Frederick The Great and in Denmark in 1795. Danish covered bond lending emerged after the Great Fire of Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bearer Bond
A bearer bond is a bond or debt security issued by a business entity such as a corporation or a government. As a bearer instrument, it differs from the more common types of investment securities in that it is unregistered—no records are kept of the owner, or the transactions involving ownership. Whoever physically holds the paper on which the bond is issued is the presumptive owner of the instrument. This is useful for investors who wish to remain anonymous. Recovery of the value of a bearer bond in the event of its loss, theft, or destruction is usually impossible. Some relief is possible in the case of United States public debt. Furthermore, while all bond types state maturity dates and interest rates, bearer bond coupons for interest payments are physically attached to the security and must be submitted to an authorized agent in order to receive payment. Issuance of new bearer bonds has been effectively outlawed in the United States since the 1980s due to their use i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DekaBank (Germany)
DekaBank Deutsche Girozentrale is the central provider of asset management and capital market solutions of the Sparkassen-Finanzgruppe. It is registered in both Frankfurt and Berlin, with main operational headquarters in Frankfurt. It traces its origins to the Deutsche Girozentrale, established in 1918 as a hub for payments within the German savings banks system. DekaBank is the central asset manager of the Sparkassen-Finanzgruppe, and one of the largest securities services providers in Germany. As a central provider, the bank bundles its competencies in asset management and financial services in its five business areas of asset management, real estate, services, capital markets and financing. Retail and institutional clients and investors can choose from a wide range of investment products and services. DekaBank cooperates closely with local savings banks and Landesbanks. Additionally, it is represented internationally with branches, subsidiaries and representative offices in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Leasing
Deutsche Leasing AG (DL) is the largest manufacturer-independent leasing company in Germany. Since 1987, the company has had its headquarters in Bad Homburg vor der Höhe and is the centre of excellence for leasing for the Sparkassen-Finanzgruppe. Shares are held by approximately 400 Sparkassen (savings banks), either directly or indirectly through holding companies. Deutsche Leasing is the sole shareholder of Deutsche Anlagen-Leasing in Wiesbaden. History "Deutsche Leasing GmbH", Germany's first leasing company, was entered in the Commercial Register in Düsseldorf in 1962. The two other predecessor companies of Deutsche Leasing "Maschinen-Miete GmbH" and "Mietdienst GmbH" were founded some time later. In 1971, these three companies merged to form Deutsche Leasing AG. Until 1991 the founder of "Maschinen-Miete GmbH", Albrecht Dietz, was Chairman of the Board of the new company. Deutsche Leasing is today the largest manufacturer-independent leasing company in Germany. Produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Universal Bank
A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance. September 18, 2008, '''' These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and asset management, trading, underwriting, researching as well as financial advisory. The concept is most relevant in the and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamburg
Hamburg (, ; nds, label=Hamburg German, Low Saxon, Hamborg ), officially the Free and Hanseatic City of Hamburg (german: Freie und Hansestadt Hamburg; nds, label=Low Saxon, Friee un Hansestadt Hamborg),. is the List of cities in Germany by population, second-largest city in Germany after Berlin, as well as the overall List of cities in the European Union by population within city limits, 7th largest city and largest non-capital city in the European Union with a population of over 1.85 million. Hamburg's urban area has a population of around 2.5 million and is part of the Hamburg Metropolitan Region, which has a population of over 5.1 million people in total. The city lies on the River Elbe and two of its tributaries, the River Alster and the Bille (Elbe), River Bille. One of Germany's 16 States of Germany, federated states, Hamburg is surrounded by Schleswig-Holstein to the north and Lower Saxony to the south. The official name reflects History of Hamburg, Hamburg's history ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamburger Sparkasse
Hamburger Sparkasse AG (Haspa) is one of 5 free public savings banks in Germany based in Hamburg. With a balance sheet total of around 41.9 billion euros and about 5,000 employees, it is the largest savings bank in Germany. It was founded in 1827 in the legal form of the old Hamburg law. In 2003 the bank was separated to a stock corporation and the original Hamburger Sparkasse changed its name to ''Haspa Finanzholding''. Corporate structure Hamburger Sparkasse is a non-listed stock corporation. The legal basis of the Sparkasse is the Haspa statutes. Services Haspa provides the universal banking business as a savings bank. According to its data, it is the market leader in the Hamburg Metropolitan Region for the private and medium-sized corporate clients. In contrast to most other savings banks, it is not subject to a savings bank law, but as a stock corporation it is subject to the German stock corporation law. Organs of the Sparkasse are the board of directors, the supervisor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dividend
A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years are available for distribution; a corporation is usually prohibited from paying a dividend out of its capital. Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or by share repurchase. In some cases, the distribution may be of assets. The dividend received by a shareholder is income of the shareholder and may be subject to income tax (see dividend tax). The tax treatment of this income varies considerably between jurisdictions. The corporation does not receive a tax deduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
