Deutsche Bank commenced business on 9 April, 1870, in Berlin. The Bank's first premises – a two-storey rented building at Französische Strasse 21 in Berlin – were modest. The formation of Deutsche Bank took place in times of upheaval in the banking sector. Industries’ financial needs were growing in the wake of industrialization, and new developments were needed in the traditional banking business.

Sketch of Deutsche Bank's first premises, Französische Straße 21, Berlin

In Berlin, a number of private bankers who were open to new banking ideas came together, with the driving force behind them being Adelbert Delbrück, head of the bank Delbrück Leo & Co. Together with Ludwig Bamberger, politician, banker and expert in monetary theory, Delbrück is regarded as the "true founder" of Deutsche Bank. 

Adelbert Delbrück

The name "Deutsche Bank" was a logical choice. On the eve of the foundation of the first national German state, it was the initiators' declared intention to create a German bank which had its headquarters in the capital of the politically and economically predominant Prussia. The bank was also designed to release Germany's foreign trade from its dependence on English and French banks.

Deutsche Bank was to designed specialize in foreign trade, as was underlined in the Articles of Association approved by the Constitutive Assembly on 22 January, 1870: “The purpose of the company is the transaction of banking business of all kinds, in particular the promotion and easing of trade relations between Germany, the other European countries and overseas markets."

But there were still political obstacles to be overcome. In Prussia, namely, all previous applications to set up joint stock banks had been turned down by the government. This time, however, the decision was different, thanks to the founders' reputations and the importance attributed to the bank project for Berlin as a financial centre.

Georg von Siemens

On 10 March, 1870, King Wilhelm I approved the concession to set up the company "Deutsche Bank, Aktiengesellschaft”. The door was now open for the first general meeting of shareholders on 21 March, at which 76 shareholders subscribed to the share capital of 5 million talers.

The first general meeting elected a 24-strong Board of Directors from among the shareholders. One of its first tasks was to determine the Bank's future management. The choice fell on Georg Siemens, among others, a young lawyer who had given proof of his abilities in contract negotiations on behalf of Messrs. Siemens on the construction of a telegraph line in Persia. Siemens was destined to shape the Bank's evolution over the next three decades.

Additional information:

Deutsche Bank chronicle 1870 until today