Danatbank
The Darmstadt and National Bank, short Danat Bank, was a German financial institution.
History
The Darmstadt and National Bank was established in 1922 by the merger of the Darmstadt Bank for Trade and Industry with the National Bank for Germany.
The Darmstadt Bank for Trade and Industry ( short usually Darmstadt bank called ), headquartered in Darmstadt is a corporation under the name Bank for Trade and Industry of Gustav von Mevissen and Abraham Oppenheim modeled after the French bank Crédit Mobilier, with a registered capital of 25 million Gulden established. She received on 2 April 1853, the concession for the banking business. She was thus the second aligned as a universal bank credit institution on share basis after A. Schaaffhausen Bank Corporation. The Bank expanded its business field by opened branches in Berlin ( 1871), after the turn of the century in Stettin ( 1900) and Hanover ( 1901). 1873 moved the bank its headquarters from Darmstadt to Berlin. Through communities of interest with other German banks, the influence of the Darmstadt database should be extended to regions where the bank was not represented.
1910 branches were established in Dusseldorf, Munich and Nuremberg. 1913 took over the Darmstadt Bank Breslauer Disconto bank with 19 branches. In the inflation between 1918 and 1923, the Darmstadt Bank opened many new stores throughout Germany.
Danatbank
1920/21 were the Darmstadt Bank for Trade and Industry and the National Bank for Germany the "Bank Community Darmstadt National Bank of Berlin ". Both banks took mutual guarantee of capital and reserves in excess of one billion marks. 1922 was followed by the complete fusion of the Darmstadt and National Bank KGaA, abbreviated as Danatbank. This created one of the largest commercial banks in the Weimar Republic. 1931 was the Danat the second largest bank in Germany, when, after initial rumors of 17 June on July 13 by the bankruptcy of the North German Wollkämmerei & worsted spinning mill was insolvent. The Danat Bank is thus a prominent victim of the deflationary policy in Germany in the context of the world economic crisis. The collapse of Danat shook the confidence in the entire German banking system and triggered a lift- shaft on accounts of credit institutions and the German banking crisis. In response, bank holidays proclaimed by the Imperial Government. By order of the Imperial Government, the Darmstadt and National Bank was subsequently merged with Dresdner Bank.
Famous people
Well-known bankers of Danat Bank and its predecessor institutions were ( in alphabetical order ):
- Siegmund Bodenheimer, President of the Darmstadt Bank 1910-1922, Partner 1922-1931
- Bernhard Dernburg, CEO of Darmstadt Bank 1901-1906
- Jakob Goldschmidt, partner 1922-1931
- John Kaempf, director of the branch of the Bank for Trade and Industry in Berlin and the Reichstag President
- Hjalmar Schacht, shareholder 1922-1923, later President of the Reichsbank
- Georg von Simson, shareholder until 1929
- Richard Witting, Director (1902-1910) and Chairman (1911-1922) of the National Bank, vice chairman of the board of Danat