Have you noticed the striking building at Domshof 17? This is the former Deutsche Schiffsbank. Its story is deeply intertwined with Bremen’s maritime history. The Deutsche Schiffsbank’s roots go way back. Two predecessor institutions, going back to 1918, shaped its path. The Deutsche Schiffspfandbriefbank relocated to Bremen in 1945. The Deutsche Schiffskreditbank was in Duisburg. They focused on financing inland navigation.
In 1989, the Deutsche Schiffahrtsbank and Deutsche Schiffsbeleihungs-Bank merged. They became the Deutsche Schiffsbank AG. This fusion created a specialized bank. It focused on ship mortgage loans. It had locations in both Bremen and Hamburg. The Deutsche Schiffsbank became a fully-owned subsidiary of Commerzbank AG.
The Deutsche Schiffsbank played a vital role in ship financing. It advised and supported shipping clients worldwide. The bank offered custom financial solutions. These solutions supported new ship construction and the purchase of used ships. A key part of their lending was ship mortgages. These loans were secured by liens on vessels. These ships could be flagged in Germany or abroad. The security had to be comparable to German law. The bank issued bonds secured by ship mortgages. In 2006, these bonds totaled around 3.6 billion euros.
Commerzbank took over Dresdner Bank in 2009. It consolidated all ship finance activities within the Deutsche Schiffsbank AG. But in 2011, Commerzbank decided to merge the Deutsche Schiffsbank into Commerzbank. The brand name was discontinued. By November 2011, Commerzbank owned 100% of the Deutsche Schiffsbank’s shares. The merger finalized on May 22, 2012. This marked the end of the Deutsche Schiffsbank as an independent entity.
Interestingly, the building itself is a protected monument since 2012. Friedrich Schumacher and Walter Görig designed it in 1952. An expansion followed in 1956. The Deutsche Schiffsbank building represents Bremen’s post-war reconstruction. It symbolizes the economic prosperity of the time. It is a proud statement from a bank active in ship financing. Its architecture reflects a conservative modern style.
In June 2013, Commerzbank announced its exit from ship financing. It planned to reduce its 16 billion euro loan portfolio to zero. The Deutsche Schiffsbank’s story reflects changes in the financial industry. It shows Bremen’s enduring connection to maritime business.