Dresdner Bank was established during 18th century by the conversion of the Dresden private bank Michael Kaskel.
Kaskel was one of the very few successors of former court Jews who successfully transformed their business not only into state financing, but also towards granting credits to modern industry and transport.
The creation of Dresdner bank through a consortium of banks started trading in December 1872 and then was listed in the Berlin stock exchange in January 1873 – becoming a public company.
Dresdner Bank was the first West German Bank, indeed the first West German firm, to open an office in its home city of Dresden.
In 1881, Dresdner opened a branch in Berlin, which became its head office in 1884.
By 1910, Dresdner Bank were among six banks in Germany to posses more than 100 million marks in capital.
Dresdner Bank played a role in Russia before the First World War, in a particular in the financing of railways, mechanical and electrical engineering. In the 1920s and 1930s, the Dresdner Bank participate in the reactivation of financial relations between Germany and Russia.
Dresdner acquired Kleinwort Benson, the British merchant bank in 1996, and also expanded its investment banking activities in the USA with the acquisition of Wasserstein Perella.
In 2008, Dresdner Bank employed 27,597 people and managed to establish a total of €500 billion. This makes the Dresdner Bank the third biggest in Germany.
In May 2009 Dresdner Bank merged with Commerzebank became the second largest bank in Germany, just after Deutsche Bank.
Early History of Dresdner Bank
