Deutscher Sparkassen- und Giroverband

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Deutscher Sparkassen- und Giroverband (DSGV) is the German association of savings banks. It was founded in 1924 by the merger of Deutscher Sparkassenverband and Deutscher Zentral-Giroverband. Its headquarters are located in Berlin.

German savings banks, owned by local governments, play a major role in the country's economy, together operating some 18,530 branches and employing about 320,000 people.[1] Today they are one of the largest banking groups in the world.

History[edit]

In April 2011, DSGV took control of DekaBank, buying a 50 percent stake from the Landesbanken, public sector banks such as HSH Nordbank, WestLB and SachsenLB that stumbled badly during the financial crisis. After years of subsidising the activities of the Landesbank sector, savings banks have been more assertive about ending the Wall Street-style ambitions of some of these regional lenders.[2]

Presidents[edit]

References[edit]

  1. ^ Maria Sheahan (November 28, 2017), German savings banks pick new president after tax inquiry Reuters.
  2. ^ Edward Taylor, Philipp Halstrick and Kathrin Jones (April 2, 2012), Germany's DekaBank fires CEO after spat over bonus Reuters.

External links[edit]