BHW, incorporated as BHW Holding AG, is German bank providing
terminating deposit
Terminating deposits were a form of savings-and-loan that were one of the key products of the early building society movement in the UK and from there they spread through what is now the Commonwealth. They were banned in the UK around 1910, and a ...
s and
mortgage loan
A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners t ...
s. It is a wholly owned
subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...
of
Deutsche Postbank Group.
History
The company was founded in Berlin in 1928 as Beamten-Heimstättenwerk, which roughly translates as
civil servant
The civil service is a collective term for a sector of government composed mainly of career civil service personnel hired rather than elected, whose institutional tenure typically survives transitions of political leadership. A civil service offic ...
s' home
(building) society. After
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
, it moved its registered office to
Hameln
Hameln ( ; ) is a town on the river Weser in Lower Saxony, Germany. It is the capital of the district of Hameln-Pyrmont and has a population of roughly 57,000. Hamelin is best known for the tale of the Pied Piper of Hamelin.
History
Hameln st ...
.
In 1990, it was re-organised as BHW Holding
GmbH
(; ) is a type of Juridical person, legal entity in German-speaking countries. It is equivalent to a (Sàrl) in the Romandy, French-speaking region of Switzerland and to a (Sagl) in the Ticino, Italian-speaking region of Switzerland.
It is a ...
to become BHW Holding AG later, followed by an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
in 1997. In March 2005, Deutsche Postbank announced that it has acquired a 9.2% stake in the company. Later that year,
Deutsche Postbank
Postbank (; full name: Postbank – eine Niederlassung der Deutsche Bank Aktiengesellschaft, ) is a branch of Deutsche Bank for retail banking, which was formed from the demerger of the postal savings division of Deutsche Bundespost in 1990. Si ...
made public its intent to purchase more than 90% of BHW's shares and made an offer to remaining shareholders. The acquisition was completed in 2005.
Until 2019, BHW Kreditservice GmbH took over the management of customers of other mortgage banks and building societies, such as Axa Bausparkasse and DSL Bank (so-called loan processing as an outsourcing service), in addition to servicing its own customers.
DB Bauspar, which is part of the Deutsche Bank Group, sold home savings contracts under the BHW brand name from January 6, 2014 to December 31, 2015; in 2019, the two providers were merged under the BHW name.
References
DHL Group
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