German foreign trade bank
| German Foreign Trade Bank AG (DABA) | |
|---|---|
| legal form | Corporation |
| founding | May 18, 1966 |
| Seat | Berlin , Germany |
| management | Werner Polze (from 1978) |
| Branch | Credit institution |
The German Foreign Trade Bank (DABA) was in the GDR as a specialized institute responsible for carrying out commercial payments with foreign countries and with non-residents in the country. The bank was entered in the commercial register of Greater Berlin on May 18, 1966 . The seat was East Berlin . The GDR's share capital was 1.5 billion marks . The organs were the supervisory board , the executive board and the administrative board . Werner Polze was President of the bank from 1978 .
tasks
- Conclusion of agreements and arrangements with other banks (especially foreign banks)
- Cooperation with international banking organizations and other institutions
- Correspondent bank abroad
- Account management for foreign banks in the GDR
- Account management for the GDR at foreign banks
- Granting and drawing on loans at international level
- Financing of the foreign trade companies of the GDR and of transport companies with predominantly foreign trade activities
- Execution of payment transactions with foreign countries ( SW and NSW ). Within the COMECON, DABA took over the clearing with the International Bank for Economic Cooperation on the basis of transfer rubles .
- Lending to foreign trade companies,
- financial participation in domestic and foreign companies.
Statute (extracts)
In the performance of its tasks, the bank was able to open branches and agencies in the GDR and abroad and have its own representatives. She could rent, lease, or buy land, buildings, and other objects. The bank had share capital, a reserve fund and special funds.
The activity of the bank extended to
- Foreign exchange and varieties to buy and sell and to keep stocks of foreign currency and varieties
- Buying, selling and custody of gold and other precious metals
- Issuing and cashing travelers checks
- domestic and foreign securities to buy and sell, as well as the on behalf of clients and correspondents Depot to take.
organization
- The headquarters resided in Berlin in a building complex on the corner of Friedrichstrasse and Unter den Linden , which includes the House of Switzerland and the Imperial Courts .
- At the end of the 1980s there were ten branches, including a. in Karl-Marx-Stadt, Leipzig and Rostock.
- Individual branches had branch offices.
Federal German loans for the German Foreign Trade Bank
The Central Committee Secretary of the SED for economic issues, Günter Mittag, together with Alexander Schalck-Golodkowski and Franz Josef Strauss, negotiated the so-called "billion dollar loan" of a West German banking consortium to the GDR's German foreign trade bank in the early 1980s.
Privatization after the turnaround
The shares in the German foreign trade bank owned by the federal government and KfW were sold on January 1, 1995 by the Treuhandanstalt to the Westdeutsche Landesbank Girozentrale ( WestLB ). The West German Landesbank Girozentrale paid for the German foreign trade bank 430 million marks, ie less than half a billion, and got this old debt claims over seven billion mark in relation to the foreign trade companies in the GDR .
swell
The information in this article is taken from the statutes of the Deutsche Außenhandelsbank AG of March 10, 1986 as well as the teaching material for training as a financial clerk - specializing in money and credit - at Deutsche Außenhandelsbank AG as of September 1987.
Individual evidence
- ↑ Within the Comecon, DABA took over the clearing with the International Bank for Economic Cooperation on the basis of transfer rubles .
- ↑ Holdings of the Federal Archives (signature DN 11)
- ↑ Stenographic Reports. Annexes to the shorthand reports. Printed matter, Volume 560, p. 16
- ↑ Banks are given promissory notes worth 200 billion D-Marks , July 1, 2005.