DRESDNER BANK, German Bank was established in Dresden in 1872 by a founders' syndicate headed by Consul Eugen Gutmann taking over the banking house of M. Kaskel in Dresden.
The Office in Berlin, which is now the head office of the bank, was established in 1881. The bank disposed in 1928 of a capital (including open reserves) of 132 millions of Reichsmarks. It is one of the group of leading German banks, known as the "D-Banks," because their names begin with D.
Besides branches in about 8o places throughout Germany the Dresdner Bank maintains branches at Danzig, Bucharest and at three places in Poland. The bank has further an agency at Am sterdam and a special representative in New York. The Deutsch Siidaynerikanische Bank (Banco Germanico de la America del Saul) and the Deutsche Orientbank are affiliated institutions of the Dresdner Bank. Through its Board of General Managers, the Dresdner Bank is represented on the Boards of Administra tion of most of the important German industrial and commercial concerns with which it maintains very close business relations.
The bank undertakes every kind of banking business both in Germany and foreign countries. It opens current, checking and deposit accounts, executes orders for the purchase and sale of shares and bonds at any Stock Exchange ; grants covered and clean credits; receives securities for safe custody; opens com mercial credits and issues travellers' letters of credit ; provides facilities for every description of oversea-business ; advises as to trade openings in all parts of the world; furnishes credit infor mation; forms syndicates and issues or negotiates loans for corporations, municipalities and countries. In fact the bank is concerned with all branches of modern banking organization and is equipped to deal with every banking service.
It is particularly well equipped for transactions in foreign exchange, by reason of the large number of its foreign corre spondents. (C. HR.)