Customer credit bank
The Kundenkreditbank (KKB) was founded in 1926 by Walter Kaminsky and several dealers in the East Prussian Königsberg as Kundenkredit GmbH and was active as a partial payment bank in the partial payment business, where it rose to become the market leader .
history
The Kundenkredit GmbH , founded on August 30, 1926 in Königsberg by Walter Kaminsky and 20 retailers, was the first classic installment bank in Germany. From 1935 the bank operated as KKB customer credit bank based in Düsseldorf . Until 1936 Kaminsky was also chairman of the bank's supervisory board . The previous regional KKBS in Dortmund and Dusseldorf were on 27 September 1951 in the new KKB customer credit KGaA introduced, on which in the form of box investments to 25% of the bank CG Trinkaus & Co. in Dusseldorf, 22-24%, the private bank Burkhardt & Co. in Essen and (until 1957) Westfalenbank AG in Bochum held 25% . In 1955 the customer credit bank was listed on the Düsseldorf stock exchange, and in 1962 KKB was the first German credit institution to introduce electronic data processing . In 1968, KKB received a full banking license and operated the deposit business on the basis of wage and salary accounts.
The KKB and other partial payment banks came into the focus of the courts from 1971. The Conditions of KKB from August 1971 saw no. 7 Conditions ago that the rest of consumer credit was due when the borrower with a repayment rate of more than 20 days in arrears was while the former Hire Purchase Act of 2 overdue installments went out. The immorality of increased consumer credit interest also preoccupied the jurisprudence.
In 1973, 56% of KKB was taken over by the US First National City Bank of New York (later Citibank / Citigroup) and renamed KKB Kundenkreditbank - Deutsche Household Bank KGaA . The previous shareholders, who merged to form Bankhaus Trinkaus & Burkhardt in 1972, held further shares . Founder Walter Kaminsky moved to the KKB supervisory board in 1972 as deputy chairman. From 1974, 51% of the Bankhaus Trinkaus & Burkhardt was taken over by Citibank . In 1989 Citibank New York held around 97% of the KKB Bank AG, which is now operating and is based in Frankfurt am Main. On September 30, 1991 the name was changed to Citibank Privatkunden AG (later Citibank Privatkunden AG & Co. KGaA ). In December 2008 the bank was sold to the Crédit Mutuel banking group. It has been operating under the name Targobank since February 22, 2010 and is the market leader with a 7% market share in the consumer credit business. The bank employs around 6,500 people and has around 300 branches nationwide.
advertising
At the end of the 1980s, KKB-Bank launched an advertising campaign: “Steffi is looking for her successor”, in which a successor to the German tennis star Steffi Graf was sought and in which her father, trainer and manager Peter Graf personally took care of the careers of the winners of a specially played “KKB Cup Steffi Graf”. However, this did not happen because, according to the Spiegel (17/1991) , the action turned out to be a "publicity stunt".
Business area
KKB was the first bank in Germany to issue standardized consumer loans to private individuals. The business success of the successor institutions was based on the fact that higher credit interest rates were paid on bank balances ( current accounts , savings accounts and fixed deposits) than with competing companies. In 1989, KKB was the first German bank to introduce telephone banking.
Managing directors
Initially, Walter Kaminsky headed the bank as personally liable partner , and in 1962 his son Stefan Kaminsky joined the company as a further managing director. From 1973 both changed to the supervisory board when Citibank took over. Between 1980 and 1986 Günter Schneider was the management spokesman. Schneider was the first CEO of Postbank from 1990 to 1997 . In 1988 Peter Lütke-Bornefeld was a member of the board of KKB Bank; from 2008 he was chairman of the supervisory board of MLP AG .
Individual evidence
- ↑ Journal for the entire credit system, Volume 27, 1974, p. 68
- ↑ David Plink (Ed.), Top Employer Germany 2012 , 2012, p. 623
- ↑ DER SPIEGEL 17/1991 of April 22, 1991, as accessed at the roulette table on October 24, 2013