DZ Bank 3.4% Oct 2027

Yield: 2.31%
EUR
Price
Yield
Bond information
DZ Bank
DE000DW6C896
Germany Germany
EUR
Banking Services
3.4 %
Fixed
Annually
03-10-2023
01-10-2027
1,000
200 mln
No
Very low
Senior
No
Next call date:
Next call price:
Market
as of 23-04-2025 17:30 CET
Bid Offer
Price, % 102.02 Firm price 102.53 Firm price
Yield, % 2.53 2.31
Deposit spread, % 0.93 0.71
Tenor, years 2.44
Duration 2.28
Brokers ING Germany
About DZ Bank
DZ BANK AG serves as a significant commercial banking entity and the central institution for roughly 700 cooperative banks in Germany (Volksbanken and Raiffeisenbanken). As of the end of 2023, DZ BANK, which also functions as the parent company for the DZ BANK Group, boasted consolidated assets amounting to €645 billion, making it the second largest financial group in Germany, holding about 6% of the nation's total banking assets. The bank's operations extend across a broad financial services spectrum, encompassing numerous banking subsidiaries and one of Germany's largest insurers, R+V Versicherungen. Approximately 84% of DZ BANK's lending activities are rooted in traditional banking, involving entities like DZ BANK AG, the central group unit, DZ HYP AG—a prominent commercial real estate firm in Germany, Bausparkasse Schwaebisch Hall AG (BSH), a major residential mortgage provider, and DZ Privatbank, which specializes in private banking for the cooperative sector and substantial asset management functions under Union Investment. Moreover, DZ BANK integrates retail consumer financing through Team Bank AG and provides financing solutions for small and medium enterprises via VR Smart Finanz. The bank reports a €471 billion credit portfolio in traditional banking, with €149 billion of that stemming from internal group activities, reflecting its central role within the cooperative bank network. Corporate loans make up €81 billion of its portfolio, primarily directed towards large German corporations that surpass the capacity of smaller cooperative banks, often necessitating collaborative financing with DZ BANK. The bank's real estate holdings, including consolidations from BSH and DZ HYP, account for another €118 billion. Insurance-related lending activities contributed approximately €90 billion, or 19% of the total lending volume by the end of December 2023. The group primarily focuses its risk exposures within Germany, accounting for about 84% of its total, with the remainder split evenly between European and other international exposures. Key drivers of the group's profitability include its standalone banking operations, corporate lending, insurance operations through R+V, and asset management via Union Investment. As of the close of 2023, 99.5% of DZ BANK's shares were owned by German cooperative enterprises, predominantly cooperative banks. DZ BANK was established through the merger of GZ-Bank and DG BANK in 2001, subsequently named DZ BANK AG Deutsche Zentral-Genossenschaftsbank, based in Frankfurt am Main.
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