DVB Bank

DVB Bank SE is part of the DZ BANK Group and a specialist in international transportation finance, based in Frankfurt/Main, Germany.

DVB Bank SE
TypeSocietas Europaea
ISINDE0008045501
IndustryBanking
Founded1923
HeadquartersFrankfurt, Germany
Area served
Worldwide
Key people
Ralf Bedranowsky (CEO),
David Goring-Thomas,
Christian Hagemeyer,
Bart Veldhuizen
ProductsFinancial services
€56.0 million (2016)
Total assets€27.7 billion (2016)
Total equity€1.3 billion (2016)
OwnerDZ BANK (95.47%), free-float (4.53%)
Number of employees
624 (2016)
DivisionsShipping Finance, Aviation Finance, Offshore Finance, Land Transport Finance, Investment Management
Websitewww.dvbbank.com

The Bank is listed on the Frankfurt Exchange with majority ownership from DZ BANK. More than 620 employees work at the offices in Europe (Frankfurt/Main, Amsterdam, Athens, Hamburg, London, Oslo and Zurich), in North and South America (New York and Curaçao), as well as in Asia (Singapore and Tokyo).[1]

The Bank sees itself as a provider of financing and advisory services in the global transportation market, especially in the segments of shipping, aviation, offshore and land transport.[2]

History
Share of the Deutsche Verkehrs-Kredit-Bank AG, issued October 1925

The institute was founded on 18 May 1923 as Deutsche Verkehrs-Kredit-Bank AG (German traffic credit-Bank AG; DVKB) by several banks and industrial companies, initially to freight deferrals for the German Reichsbahn.

After World War II, DVKB, specialized in cargo deferral, which was fixed by law. 1949 after the unification of the two main locations in Frankfurt and Hamburg, the head office in Frankfurt was established. It also operated numerous branches in other German cities.

In 1988, the DVKB was placed on the stock exchange, the German Federal Railways held 75.1 percent stake. In 1991, it was named Deutsche Verkehrs-Bank AG (German traffic Bank AG), in 1997 named Deutsche VerkehrsBank AG (German Transport AG) and 2002 changed its name again to DVB Bank AG. Since 1 October 2008, it has been trading as DVB Bank SE.[3]

As a consequence of the financial crisis, DVB suffered from exposure to a prolonged slump in the global container shipping industry. DZ Bank entered talks to sell DVB to Japan’s Mitsubishi UFJ Financial Group in 2015, but no deal materialized at the time.[4]

In 2017, DZ Bank bought out minority shareholders in DVB, facilitating a sale of the business.[5] The following year, it put individual tranches of DVB up for sale after failing to find a buyer for the business as a whole, partly due to low offers and its pressured shipping business.[6] By early 2019, Mitsubishi UFJ Financial Group agreed to buy the entire DVB aviation financing portfolio, which stood at 5.6 billion euros ($6.37 billion) at the time.[7]

Shareholders

As at 31 December 2016, DVB's shareholder structure[8] is:

  • DZ BANK AG - 95.47%
  • Free float - 4.53%

The Bank's market capitalisation was €1.09 billion at the end of 2016.[9]

Financials[10]

Consolidated net income before taxes decreased from EUR46.1 million in 2015 to EUR-135.3 million in 2016. Total assets totaled EUR27.7 billion and DVB's nominal volume of customer lending was EUR25.9 billion. Customer lending was split among the main business divisions as follows:

  • Shipping Finance: 45.9%
  • Aviation Finance: 33.6%
  • Offshore Finance: 9.3%
  • Land Transport Finance: 6.2%

References
  1. "Employees & locations". 19 April 2017. Retrieved 19 April 2017.
  2. "Corporate website". 19 April 2017. Retrieved 19 April 2017.
  3. "Corporate history". 26 August 2015. Archived from the original on 23 August 2015. Retrieved 26 August 2015.
  4. Arno Schuetze and Jonathan Saul (December 12, 2017), Germany's DZ Bank moves ahead with plans to sell DVB unit -sources Reuters.
  5. Jonathan Saul and Arno Schuetze (September 27, 2017), Exclusive: German shipping bank DVB accelerates sale plans Reuters.
  6. Jonathan Saul and Arno Schuetze (October 19, 2018), Germany's DZ Bank in final stage of selling parts of DVB - sources Reuters.
  7. Arno Schuetze (March 1, 2019), Japan's MUFG to buy German DZ Bank's aviation finance arm Reuters.
  8. "Shareholder structure". 19 April 2017. Retrieved 19 April 2017.
  9. "DVB share". 19 April 2017. Retrieved 19 April 2017.
  10. "All data retrieved from DVB's Annual Report 2016" (PDF). 19 April 2017. Retrieved 19 April 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.