Stadtsparkasse München
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| Industry | Bank |
|---|---|
| Founded | 1824 |
| Headquarters | Sparkassenstr.2, D-80331 Munich , |
30,639,473.02 Euro (2017)  | |
| Total assets | 17,982,937,263.11 Euro (2017) |
Number of employees | 2,676 (2016) |
| Website | www |
Stadtsparkasse München is one of the oldest banks in Germany founded in 1824. The bank has total assets of more than 23 billion euro and is the fourth largest Sparkasse-group bank in Germany.[1]
It is an institution under the public law and the legal basis is the Savings Banks Act, Bavarian Savings Bank Regulations, and Articles of Association issued by the City Council.
The bank is owed by the City of Munich, head of the board is major Dieter Reiter (SPD).[2]
Services[edit]
The Stadtsparkasse provides the universal banking business. It is a market leader in the private customer area in relation to main bank connections. Measured by the average balance sheet, it is the largest Bavarian and fifth largest German savings bank. The Stadtsparkasse cooperates with the LBS Bayerische Landesbauparkasse, DekaBank and Versicherungskammer Bayern, etc.
History[edit]
On January 2, 1824, the Stadtsparkasse München (municipal savings bank) opened its first branch in Munich and was known as the "People's Bank". After the Second World War, it financed large parts of the reconstruction of Munich.[1]
The bank's branches were located in drugstores and pharmacies. In 1894 there were twelve branches. In 1977 the bank had 100 and since then the number has been falling again. In 2023 there were 46.[1]
In order to conduct real estate business worldwide, the Rhamanis founded at least 23 German and eight Cypriot companies from 2023, six in Dubai, two in Afghanistan, two in Austria, one in the Netherlands and one in Bulgaria. Loandering illegal money is the purpose of the Real Estate activities.
In 2024 it get pulic, that Stadtsparkasse München is main supplier for the real esate business of Afghan business men Ajmal Rahmani, which is sanctioned by the US because of fraud, corruption, tax crime and other crininal activities. According to German public broadcaster SWR, Ajmal Rahmani bought the former IBM headquarters in southern Germany in 2021 for 50 million euros without a bank loan. The sale was carried out in 2021 via a notary's office in Munich and the Stadtsparkasse Munich. Purchases for 205 million euros in Munich, Frankfurt am Main, Herrenberg and Ehningen are to be processed via the Stadtsparkasse München. German authorities and cities largely ignore the US sanctions against the developer Rahamni.[3]
Charity[edit]
In 2014 it donated about 4.3 million euros for the social and cultural projects via its 6 foundations:
- Kundenstiftung "Gemeinsam Gutes tun"
- Kinder- und Jugendstiftung der Stadtsparkasse München
- Stiftung Soziales München
- Kulturstiftung
- Stiftung Straßenkunst
- Altenhilfestiftung.
References[edit]
Article contains translated text from Stadtsparkasse München on the German Wikipedia retrieved on 7 March 2017.
External links[edit]
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| National | |
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- ^ a b c Mölter, Joachim (2023-12-26). "Stadtsparkasse München feiert 200. Geburtstag". Süddeutsche.de (in German). Retrieved 2024-05-13.
- ^ "Handelsblatt". www.handelsblatt.com. Retrieved 2024-05-13.
- ^ SWR, Tina Fuchs und Abdul Qalam Haqiqat. "Investor aus Afghanistan unter Korruptionsverdacht". tagesschau.de (in German). Retrieved 2024-05-13.