Report from Bremen - Sparkasse Bremen

Our Bank
of the 431 savings banks operating in Germany, six are known as
»independent« savings banks. Die Sparkasse Bremen is one of
the largest of these independent institutions. Independent savings
banks differ from communal savings banks in that they are
not subject to German public law. Die Sparkasse Bremen is a bank
under civil law. this has various advantages for our bank. First of
all, our bank is not subject to any direct government influence. For
example, it is not obliged to finance public borrowing. Secondly,
our bank’s activities are not restricted to the Bremen area. Die
Sparkasse Bremen was established by citizens of Bremen in 1825.
»Die Sparkasse Bremen-Gruppe« took on a new structure with
the spinning off of banking operations to Die Sparkasse Bremen
AG with retroactive economic effect as of 1 January 2004. the
economic association, for over 179 years as Die Sparkasse in
Bremen a trusted Sparkasse business institution, remains intact
and is today doing business as Finanzholding der Sparkasse in
Bremen. It holds all shares in the new Die Sparkasse Bremen AG.
4 Die sParkasse Bremen ag | AnnuAl RepoRt
though our bank was named »Sparkasse« (savings bank) and
this name has been retained ever since, this banking institution
is authorized to provide a complete range of banking and
related financial services. It is therefore correct to describe Die
Sparkasse Bremen as a privately organized universal bank. this
means that our bank is a commercial and savings bank offering
all kinds of banking transactions (including commercial banking
business) in the city and area of Bremen and all over Germany.
All of our bank’s liabilities are covered by the reserve funds,
which are held in accordance with section 10 of the German
Banking Act. Having been established by Bremen citizens
185 years ago, our bank is today the oldest financial institution
in the Bremen market. uniquely, it is managed by people, which
enables it to cope with any specific Bremen issues which may
arise. this is also the reason why we are the bank accounting for
about two thirds of the domestic market and a large part of the
international banking market in Bremen.