DAB BNP Paribas is a brand of the German branch of the French major bank BNP Paribas with business premises in Munich. The BNP Paribas brand for independent asset managers, fund brokers, investment advisers and institutional clients was founded on 18 January 1994 as the first discount broker in Germany, trading under Direkt Anlage- und Vermögensverwaltungs-GmbH, and started operations in May 1994 as Direkt Anlage Bank GmbH (DAB). As of 1 January 2016, the operating private customer business was transferred to the BNP Paribas S.A. branch Germany. On 12/13 November 2016, the DAB bank's online portal was shut down and all private customers transferred to Consorsbank.[1]
Business model
After its integration with Consorsbank and all private customers being transferred there, DAB is focussed on the business with financial intermediaries such as asset managers, fund brokers, investment advisers, digital asset managers as well as banks and savings banks since its foundation. It offers institutional customers a central depository for securities of all asset classes. The fully integrated securities trading platform enables the trading of all types of securities at home and abroad in all common currencies via a custody account.