Since 1884 WGZ BANK performs the functions of a central bank for cooperative banks (Volksbanken und Raiffeisenbanken) in Rhineland and Westphalia, and promotes and supports the regional cooperative banks, which are both its main customers and shareholders. In addition, WGZ BANK is a traditional partner of the Rhenish-Westphalian SMEs and provides the SMEs with customized financial services. In June 2016 both DZ BANK and WGZ BANK shareholders approved the merger between the banks. The joint central institution servicing cooperative banks in Germany started operations on August 1, 2016.
WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank was the 16th largest bank in Germany in terms of total assets. In 2015 its total assets were 89 795,00 mln EUR, providing the bank with the market share of 1.29%.
WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is AA- (very high credit quality).
WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank participates in deposit guarantee scheme of Germany. This scheme covers accounts up to 100,000 EUR per bank per depositor.
WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank is a member of DZ Bank (Germany).
WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank was headquartered in Düsseldorf.