Frankfurter Volksbank

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Frankfurter Volksbank eG
logo
Country GermanyGermany Germany
Seat Frankfurt am Main
legal form registered cooperative
Bank code 501 900 00
BIC FFVB DEFF XXX
Association Cooperative Association - Association of Regions
Website www.frankfurter-volksbank.de
Business data 2019
Total assets EUR 12.258 billion
insoles 10.138 billion euros
Customer credit EUR 6.540 billion
Employee 1551
Members 250,950
management
Board Eva Wunsch-Weber (
chair ), Michael Mengler (co-chair),
Sven Blatter,
Ulrich Hilbert,
Ralf Pakosch,
Harald Stroh
Supervisory board Hans-Dieter Hillmoth (Chairman)
List of cooperative banks in Germany
Main branch: Börsenstrasse 7–11 in Frankfurt am Main

The Frankfurter Volksbank eG is a cooperative bank with its headquarters in Frankfurt am Main . The business area of ​​the bank includes the city of Frankfurt and parts of the surrounding area.

history

The history of Frankfurter Volksbank goes back to 1862. On May 19, 1862, the Frankfurter Gewerbekasse was founded by 81 well-known Frankfurt citizens. At the end of November 1862, a committee was set up to set up a savings and advance payment bank. The Frankfurt banker Adolph Reinach (CEO from 1862 to 1870) became the first chief executive. On October 1st, 1862 business operations began in the house of the cashier, the playing card manufacturer Caspar Ludwig Wüst in Gallusstrasse. 15. On November 11, 1862, the Senate of the Free and Imperial City of Frankfurt granted the bank the right to act as a legal entity.

The bank took off quickly. The end of the guild restrictions in Frankfurt in January 1864 contributed to this, stimulating the development of the craft. In the first five years from 1862 to 1867, the number of members grew from 81 to 694, the balance sheet total from 42,000 to almost 1 million guilders and 112,000 guilders were raised in savings. In addition, the company was profitable and paid a dividend that rose from 6% (1863) to 7% (1867). The company also grew in the following years until it suffered a setback for the first time in the start-up crisis . The number of members rose from 1525 in 1872 to 2153 in 1875, to fall in 1881 to 1863.

In 1868 the bank moved from the Hotel du Nord to new premises at 18 Neuer Kornmarkt. In 1873 there was another move to the Große Eschenheimer Gasse in the building of Leopold Sonnemanns (a co-founder of the bank) Frankfurter Zeitung .

In 1878 the house on the corner of Börsenstrasse / Freßgass was acquired as the headquarters.

Another factor that increased the attractiveness for members was the change of the Prussian Cooperative Act Whereas previously all members jointly adhered by 1868 with its own assets, which was Solidarhaft canceled on February 20 1890th In 1914 the company had 3,190 members and had a share of 3 million marks. The annual dividends fluctuated between 5 and 8 percent.

The inflation in the early 1920s also hit the industry hard cash. Although the number of members was increased to 4,203 in 1925, the value of the shares fell to 187,510 Rentenmarks . The fact that the bank survived this difficult time was also the result of the work of the CEO, Wilhelm Keller, who ran the bank from 1913 to 1936. With an interruption in the global economic crisis , the 20s and 30s were also times of strong growth. In 1930 the balance sheet total was 10.1 million marks, in 1942 it was 16.24 million marks.

In 1942 four cooperative Frankfurt credit institutions were forcibly merged to form the Frankfurter Volksbank. In addition to the Frankfurter Gewerbekasse, these were the Frankfurter Genossenschaftsbank (founded in 1897), the Frankfurter Volksbank (founded in 1908) and the Bank for Trade and Industry (founded in 1925).

  • The Frankfurter Genossenschaftsbank was set up in 1897 as a craftsman savings and advance fund eGmbH by 16 founders. Since December 13, 1909, it traded as the Frankfurter Genossenschaftsbank. In 1920/21 she had started to open branches in Bad Homburg and Oberursel. The main branch has been at Biebergasse 10 since 1922.
  • Volksbank Frankfurt am Main was founded in 1908 as a savings and loan fund for homeowners in Frankfurt am Main eGmbH. In 1940 the name was changed to Volksbank.
  • The bank for trade and commerce was founded in 1925 as Volks-Spar- und Creditcasse eGmbH and has been known as the bank for trade and commerce since 1928.

The combined institute now had 4819 members and total assets of 47 million marks.

As a result of the currency reform , large parts of the capital were again lost. The DM opening balance of June 21, 1948 showed that the balance sheet total of 76 million RM became 5 million DM. Of these, 3.6 million compensation claims against the public sector were on the assets side. The bank had 4,400 members. With the economic miracle , the bank grew strongly again in the following years. In 1961 it had 8,082 members and DM 6.2 million in equity.

In 1970, other traditional Volksbanks in the Frankfurt area were merged to form Frankfurter Volksbank. These were the Volksbanken from Kronberg (founded 1862, 2200 members, 45 million DM balance sheet total), Rödelheim (founded 1863) and Bockenheim (34 million DM balance sheet total, founded 1863). The latter had already merged with Volksbank Eschborn (founded 1926) and Volksbank Niederrad (founded 1872) in 1955.

In the following years there were a number of other mergers with other Volksbanks:

  • 1981: Bornheimer Volksbank (founded in 1881), which had merged with Volksbank Bonames (founded in 1870) in 1954
  • 1990: Volksbank Vortaunus (founded 1899)
  • 1994: Königsteiner Volksbank (founded in 1865)
  • 1998: Raiffeisenbank Maintal (a merger of the Raiffeisenbanks Maintal-Bischofsheim and Maintal-Dörnigheim)
  • 1999: BVB Volksbank (founded in 1924 as Bad Vilbeler Volksbank, 1981 merged with Raiffeisenbank Berkersheim, 1991 merged with Bergen-Enkheimer Volksbank), Volksbank Heldenbergen (founded 1868) and Raiffeisenbank Bad Homburg (founded 1863)
  • 2000 Volksbank Raiffeisenbank Hanau (founded 1864) and Volksbank Usinger Land (founded 1863)
  • 2002 Volksbank Mörfelden-Walldorf (founded in 1891) and Volksbank Kelsterbach (founded in 1889)
  • 2003 Offenbacher Volksbank (founded 1865) and the Volks- und Raiffeisenbank Weilmünster (founded 1865)
  • 2004 Raiffeisenbank Bruchköbel (founded 1893)
  • 2006 Volksbank Egelsbach (founded 1883)
  • 2009 Volksbank Main-Taunus (founded in 1900)
  • 2012 United Volksbank Griesheim-Weiterstadt (founded in 1888)
  • 2016 Volksbank Höchst a. M. (founded 1862)
  • 2018 Volksbank Griesheim (founded in 1871) which had merged with Vereinsbank Schwanheim (founded in 1863) in 1992 and Vereinigte Volksbank Maingau (founded in 1863)

swell

  • Franz Lerner: From the Frankfurter Gewerbekasse to the Frankfurter Volksbank, 1962, Festschrift 100 Years of the Frankfurter Volksbank

Web links

Commons : Frankfurter Volksbank  - Collection of images, videos and audio files

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ [1]
  3. ^ Heinrich Ludwig: History of the village and the city of Bockenheim, 1940, page 317

Coordinates: 50 ° 6 ′ 53.9 "  N , 8 ° 40 ′ 35.4"  E