History of Deutsche Bank in Argentina

Adelbert Delbrück, one of Germany’s foremost private bankers led the foundation of Deutsche Bank in Berlin in 1870. At that time, European banking was in the throes of radical change as a consequence of the Industrial Revolution. From the start, Deutsche Bank’s international business was built up steadily.

August 5, 1887

First Deutsche Bank head office in Argentina

On August 5, 1887, Deutsche Uebersee-Bank (DUB), which was founded by Deutsche Bank one year before and renamed into Deutsche Ueberseeische Bank in 1893, opened its first Latin American subsidiary in Buenos Aires under the name Banco Alemán Transatlático. The formal resolution approving the opening of the entity’s headquarters in 124 Reconquista Street had been adopted on January 17 of that year.


1898

Share of the German Transatlantic Elictricity Company
In 1898, the Deutsche Uebersee-Bank, together with a group of German and Swiss banks and Allgemeine Elektricitäts-Gesellschaft (AEG) founded Deutsche-Ueberseeische Elektricitäts-Gesellschaft (DUEG or German Transatlantic Electricity Company). Its Supervisory Board was chaired by Arthur von Gwinner, a member of the Management Board of Deutsche Bank. The new company built a power plant in Buenos Aires.

1900–1920

Deutsche Uebersee-Bank: Rosario Branch
On August 1, 1900, the Deutsche Ueberseeische Bank (DUB) opened its first branch in the City of Buenos Aires. Two more branches were opened during this period (in addition to the Headquarters in BA). Between April 1903 and July 1920, branches were established in Bahia Blanca, Cordoba, Tucuman, Bell Ville, Mendoza, and Rosario (Santa Fe). The Bell Ville and Tucuman branches were closed by the end of this period.
During these years, DUB and Deutsche Bank, its partner in Germany, collaborated in the development of the major projects of the time: the construction of ports, the real estate boom in Buenos Aires and the development of agricultural business. During the First World War, due to Argentina's neutrality, DUB continued operating and in 1916, it founded the German Chamber of Commerce together with other companies.

October 30, 1926

Deutsche Uebersee Bank – renewed head office
After the 1920/21 economic crisis, Argentina also experienced its "golden years”. The Deutsche Ueberseeische Bank (DUB) participated in the general prosperity, demonstrating its consolidation with its new building, built in 1926.

1933–1945

During the 12 years of National Socialist rule in Germany and the Second World War, Deutsche Bank went through the darkest chapter in its history, globally. Gradually  the Deutsche Ueberseeische-Bank (DUB) closed its branches in Argentina and its headquarters in Buenos Aires were closed on June 28, 1945 by decree of the Argentine National Government.


1954

Deutsche Bank - Corrientes avenue
After the Second World War, the Deutsche Ueberseeische Bank (DUB) lost its headquarters in Berlin and settled in Hamburg. In early 1954, a representation office was opened once again in Buenos Aires, this time on Corrientes Avenue.

May 12, 1960

Reopening: Corner Bartolomé Mitre and Reconquista Street
After 5 years of negotiations, the Deutsche Ueberseeische Bank (DUB) reopened its doors in its old building on the corner of Bartolomé Mitre and Reconquista Streets. One year later, it had 110 employees, a very successful client base and an outstanding balance sheet.

1963–1968

A new phase of expansion began for the Deutsche Ueberseeische Bank (DUB), opening 7 new branches not only in the City of Buenos Aires, but also in the area known as Greater Buenos Aires and reopening its branch in Rosario, Province of Santa Fe.

1976–1978

To achieve greater efficiency in its domestic and, especially, its international operations, the Management Boards of the Deutsche Ueberseeische Bank (DUB) and Deutsche Bank (its majority shareholder) resolved the merger of both entities under the name Deutsche Bank.

March 21, 1978

Another view on the Deutsche Bank headquarter in Buenos Aires
The Deutsche Ueberseeische Bank (DUB) subsidiaries change their name to Deutsche Bank AG.

1988

Deutsche Bank branches in Argentina
Deutsche Bank acquired Bank of America´s 29 branches, reaching a total of 41 branches nationwide. During this period, in a context of hyperinflation, the bank’s share in Argentine Foreign Trade reached 11%.

1994

In 1994, Deutsche Bank AG, Buenos Aires branch, became Deutsche Bank Argentina SA.

1997

In 1997, Deutsche Bank decided to sell its 48 branches to Bank of Boston. The decision to sell its retail banking operations in Argentina was due to high competition in the sector. The bank decided to focus on large corporate clients and investment banking. This was the origin of Deutsche Bank SA, operating in the same business segment as the Deutsche Ueberseeische Bank (DUB) back in 1887.

2012

Deutsche Bank headquarter in Buenos AiresAt present, in Argentina, Deutsche Bank focuses on large corporate clients, financial institutions and government related entities, providing access to international and national markets and products and maintaining a close relationship with them, based on knowledge of the domestic market and human talent. Since 2011, Argentina belongs to Latin American Region the 8th Region for Deutsche Bank, together Germany, Continental Europe, England, Asia, Japon, Middle East and North America. The headquarter of Latin America is in São Paulo, Brazil.



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Last Update: January 24, 2013
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