A century ago, Deutsche Bank opened its first branch in Brussels. This was only the Bank's third foreign branch under its own name, after its London office and the branch opened only six months earlier in Constantinople, now Istanbul. Apart from these offices, the Deutsche Überseeische Bank and the Deutsch-Asiatische Bank were the mainstays of the Bank's international network.

Drawing of Deutsche Bank's first branch in Brussels, 5-9 rue d'Arenberg

Today Deutsche Bank employs around 800 staff in Belgium and has 31 Financial Centers in the country. As a modern universal bank, Deutsche Bank Belgium offers its more than 300,000 customers a broad range of first-class banking services: private clients receive an all-round service extending from account-keeping and cash and securities investment advisory to asset management, while Corporate and institutional clients receive the full product assortment of an international corporate and investment bank − from payments processing and corporate finance to support with IPO's and M&A advisory. In addition, the Bank has a leading position in international foreign exchange, fixed income and equities trading.

Deutsche Bank had maintained close links with Belgian banks ever since its foundation. In 1894 it purchased a stake in Deutsch-Belgische La Plata-Bank. Along with a number of Belgian institutions this Bank's shareholders also included Disconto-Gesellschaft and Sal. Oppenheim. However, it did not enjoy great success.

The Brussels subsidiary was formed by way of the takeover of the local bank Balser & Co three-and-a-half decades later. It carried out the usual range of banking activities with a particular focus on the securities business and investment banking. In 1914, approximately 200 employees were working in Brussels.

During the First World War the subsidiary continued its operations, but business with companies in Belgium that were working with the German military became increasingly important. Towards the end of the war, at the request of the military authorities, three branches were opened in occupied Belgium. In November 1918 the Brussels subsidiary closed its doors and the Belgian government appointed a liquidator.

To a certain extent, history repeated itself during the Second World War. Following the occupation of Belgium by German troops, Deutsche Bank returned to Brussels. However this time it established a representative office rather than a subsidiary, which remained open for several years.

After the war, the old correspondent bank connections were re-established and extended. At the end of the 1950s Deutsche Bank sought to forge links with the leading European banks. Together with other banks, including Société Générale de Belgique, it founded the first European banking group, from which the European Banks International Company S.A. (EBIC) was subsequently formed. In 1967 Banque Européenne de Crédit à Moyen Terme was established in Belgium as the first community bank.

Deutsche Bank only began to consider opening its own branches in Belgium in the mid 1970s when it became clear that the EBIC concept needed to be supplemented with offices in major financial centers. Following the opening of the subsidiaries in London and Paris – in both cases existing representative offices were converted to branch offices – a branch in Brussels was a logical step, given the city's status as the seat of the European Union and the headquarters of many multinational firms. The port city of Antwerp also came under consideration, as its surrounding region was the main focus of German investments in Belgium.

In April 1977 Deutsche Bank's Management Board decided to open branches in both cities. They began operating on 16 August 1978 and opened their doors two months later, coinciding with the flotation of Deutsche Bank on the Brussels stock exchange.

Twenty years later Deutsche Bank's acquisition of the Belgian business of Crédit Lyonnais marked its entry into retail banking, a move that eventually led to the creation of a subsidiary.


Additional information:
Website of Deutsche Bank Belgium