DZ BANK AG is the second largest bank in Germany. It is the central institution in the cooperative financial network and serves approx. 900 cooperative banks (and their 11,000 branch offices), each of which is a stakeholder in DZ BANK AG and which together own the majority stake. As “DZ BANK. Die Initiativbank”, it is also active as a corporate bank and is the holding company for the specialised service providers in the DZ BANK Group: Bausparkasse Schwäbisch Hall (building society), DZ HYP (real estate and public sector financing), DZ PRIVATBANK, R+V Versicherung (insurance company), TeamBank (consumer finance), Union Investment Group (asset management), VR Smart Finanz and various other specialised institutions. With its extensive range of financial products and services, the DZ BANK Group supports the local cooperative banks in Retail Banking, Corporate Banking, Capital Markets and Transaction Banking.