Deutsche Bank founded in Berlin
- When
- 1870
- Where
- Berlin
- Episodes
- 2
Deutsche Bank was founded in Berlin in 1870 to support German foreign trade, addressing the reliance on British and French banks. The Prussian government granted a banking license in March 1870, following the adoption of the bank's statute in January. Key figures included Georg von Siemens and Hermann Wallich, who served as founding directors.
Episodes
- Prussian Banking License
The Prussian government granted Deutsche Bank a banking license on 10 March 1870, following the adoption of its statute in January.
- Georg von Siemens Appointment
Georg von Siemens returned to Berlin in April 1870 and was appointed as a founding director of Deutsche Bank.
Background and detail
Background. Prior to its founding, German importers and exporters relied heavily on British and French banking institutions. German bills were often unknown or disliked in international commerce, subject to higher discount rates than English or French bills. This economic handicap motivated the creation of a specialist bank for financing foreign trade and promoting German exports.
Legal Establishment. The bank's statute was adopted on 22 January 1870. On 10 March 1870, the Prussian government granted Deutsche Bank a banking license. The institution initially operated from the first floor of a building at 21 Französische Strasse in Berlin before moving to premises near the Berlin Stock Exchange in 1871.
Leadership. Georg von Siemens returned to Berlin in April 1870 and was appointed founding director. He served as the first managing director from 1870 to 1900. Hermann Wallich was also a co-founder and director from 1870 to 1893. Under their leadership, the bank rapidly became one of Germany's largest banks.
People involved
- Georg von Siemens · Co-founder and first managing director
- Hermann Wallich · Co-founder and director
Sources
- Deutsche Bank Wikipedia, revision of 2026-10-01
- Georg von Siemens Wikipedia, revision of 2025-11-24
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.