DAB BNP Paribas
DAB BNP Paribas is the German BNP Paribas brand serving financial intermediaries and institutional securities clients.
Last updated August 26, 2026
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Overview
DAB BNP Paribas is the specialist institutional-services brand of BNP Paribas in Germany. It traces its origins to Direkt Anlage Bank, established in Munich in January 1994 as Germany's first discount broker. The business initially targeted private investors with a low-cost, technology-led model for securities trading, helping establish online brokerage in the German market. Operations began in May 1994 under the name Direkt Anlage Bank GmbH, later shortened to DAB Bank. The business developed during the expansion of online investing in the 1990s. It introduced online banking in 1996 and expanded its trading proposition, including off-exchange securities trading. DAB became a stock corporation in 1997 and was listed in the Neuer Markt segment in 1999. Its equity-market history also included the acquisition of the French online broker Selftrade in 2001 and a presence on the Paris market's Nouveau Marché. The DAB group subsequently disposed of or reorganized several international and affiliated activities, including its Swiss business and the Austrian direktanlage.at operation. DAB's ownership changed materially as the German banking sector consolidated. It was originally established as a subsidiary of Munich-based Hypo-Bank. Following the 1998 creation of HypoVereinsbank through the merger of Hypo-Bank and Bayerische Vereinsbank, and the subsequent acquisition of HypoVereinsbank by UniCredit in 2005, DAB operated within the UniCredit group. In August 2014, BNP Paribas agreed to acquire UniCredit's majority holding in DAB Bank. The transaction gave BNP Paribas control of the German online-brokerage business and complemented its ownership of Consorsbank. The consumer-facing DAB model was later restructured. The private-customer operating business was transferred to the German branch of BNP Paribas on 1 January 2016. In November 2016, the DAB online portal was closed and private customers were transferred to Consorsbank. The DAB Bank name therefore disappeared from the German retail-banking market, while the DAB identity continued in a specialist business serving professional financial-market participants. Today, DAB BNP Paribas focuses on independent asset managers, fund brokers, investment advisers, digital asset managers, banks, savings banks and other institutional clients. Its services include securities custody, trading infrastructure and fund-platform access. The platform supports securities trading in domestic and international markets and across common currencies, while its institutional fund offering includes thousands of funds from more than 200 capital-management companies. DAB also continues to hold deposits associated with Volkswagen Bank. Its role is consequently that of a business-to-business financial-services platform within BNP Paribas rather than a mass-market retail bank.
History
DAB BNP Paribas began as Direkt Anlage Bank, a Munich-based venture founded on 18 January 1994 and launched operationally in May of that year. It was created to offer German investors a discount-brokerage alternative based on direct distribution and electronic securities trading. The business is described as Germany's first direct or discount broker. Its early development coincided with the growth of private share ownership, online financial information and self-directed investing. The company introduced online banking in 1996 and became a stock corporation in 1997. In 1998, it added an off-exchange trading facility, reinforcing its position as a technology-oriented securities intermediary. The company went public in 1999 in the Neuer Markt segment and was included in the selection index associated with the NEMAX 50 between March 2000 and March 2003. During this period, DAB also removed deposit and account-maintenance charges, supporting its discount-broker identity. DAB expanded through corporate transactions and international activities. In 2001, it changed its name to DAB Bank in connection with the acquisition of French online broker Selftrade. The Selftrade business and DAB Bank Switzerland were later sold in 2002, while the Austrian direktanlage.at operation was acquired by Bank Austria. DAB also acquired FondsServiceBank in 2004 and sold that business to Fondsdepot Bank in 2009. The bank's ownership reflected wider German banking consolidation. It was originally associated with Hypo-Bank, which merged with Bayerische Vereinsbank in 1998 to form HypoVereinsbank. UniCredit acquired HypoVereinsbank in 2005. By February 2013, UniCredit Bank held 81.39 percent of DAB Bank, with the remainder in free float. BNP Paribas acquired that controlling stake in August 2014 for a reported 354 million euros, bringing DAB into the same group as Consorsbank. The consumer online-brokerage model was subsequently integrated rather than maintained as a separate retail brand. On 1 January 2016, DAB Bank's operating private-customer business was transferred to the BNP Paribas S.A. branch in Germany. BNP Paribas then completed the squeeze-out of minority shareholders, ending DAB Bank's stock-market listing on 27 July 2015. On 12 and 13 November 2016, the DAB online portal was shut down and private customers were transferred to Consorsbank. The DAB Bank brand consequently disappeared from the retail market. The DAB identity continued in a professional-services role. Its business is directed at independent asset managers, fund brokers, investment advisers, digital asset managers, banks and savings banks. It provides a central securities depository and an integrated trading platform covering different asset classes, domestic and foreign markets, and common currencies. It also operates as an institutional fund platform with access to more than 9,000 funds from over 200 capital-management companies, according to the referenced account. DAB BNP Paribas is therefore best understood as a German institutional banking and securities-services brand within BNP Paribas, not as a current mass-market online bank.
- 2016
Retail business transferred and portal closed
[1]Private-customer operations moved to BNP Paribas Germany and customers were subsequently transferred to Consorsbank.
- 2015
Stock-market delisting
[1]The remaining minority shareholders were squeezed out and the listing ended on 27 July.
- 2014
BNP Paribas acquisition
[1]BNP Paribas acquired UniCredit's controlling stake in DAB Bank.
- 2009
FondsServiceBank sold
[1]DAB sold FondsServiceBank to Fondsdepot Bank.
- 2004
FondsServiceBank acquired
[1]DAB expanded its fund-services activities through the acquisition of FondsServiceBank GmbH.
- 2001
Selftrade acquisition and renaming
[1]The company acquired French online broker Selftrade and adopted the DAB Bank name.
- 1999
Neuer Markt listing
[1]DAB was listed in the Neuer Markt segment and later became associated with the NEMAX 50 selection index.
- 1998
Off-exchange trading added
[1]DAB introduced an off-exchange trading platform.
- 1997
Conversion to a stock corporation
[1]The company became a stock corporation ahead of its public-market expansion.
- 1996
Online banking introduced
[1]DAB expanded its direct-brokerage model with online banking services.
Products and positioning
A specialist German institutional-services platform combining BNP Paribas banking infrastructure with custody, trading and fund-platform services for financial intermediaries and professional investors.
Custody and settlement
Institutional securities custody
DAB BNP Paribas provides professional clients with a central custody infrastructure for securities across asset classes. The service is intended for financial intermediaries and institutional customers rather than ordinary retail account holders, supporting the safekeeping and administration of investments within an integrated banking platform.
Securities execution
Integrated securities-trading platform
The platform enables institutional and intermediary clients to trade securities in domestic and foreign markets and in common currencies. It forms part of the business-to-business model that remained after DAB's private-customer operations were transferred to BNP Paribas and Consorsbank.
Fund distribution
Institutional fund platform
DAB operates a fund-platform service for professional investors and intermediaries, providing access to more than 9,000 funds from over 200 capital-management companies according to the referenced description. The platform supports asset managers, fund brokers, advisers and related institutional users.
Online brokerage · 1994
Retail online brokerage
The former retail proposition offered direct online brokerage and banking services to private customers. This product line is no longer offered under the DAB brand: the operating retail business was transferred in 2016 and customers were moved to Consorsbank after the DAB portal closed.
Brand decisions
2016
Transfer retail operations and focus on institutional clientsStrategyBackground
The standalone online-brokerage model was no longer being maintained as a separate retail bank after the BNP Paribas acquisition.
Action taken
The private-customer operating business was transferred to BNP Paribas's German branch, and the DAB portal was later closed with customers transferred to Consorsbank.
Aftermath
DAB's remaining identity became focused on financial intermediaries, institutional securities custody, trading and fund-platform services.
2015
Squeeze-out and delistingM&ABackground
After BNP Paribas acquired control, the group pursued full ownership of DAB Bank.
Action taken
The remaining minority shareholders were excluded through a squeeze-out, ending the stock-market listing on 27 July 2015.
Aftermath
DAB ceased to be a publicly traded company and continued within BNP Paribas's German structure.
2014
Acquire UniCredit's controlling stakeM&ABackground
DAB Bank was controlled by UniCredit, while BNP Paribas already operated Consorsbank in Germany. The acquisition created an opportunity to consolidate related brokerage and banking activities within BNP Paribas.
Action taken
BNP Paribas acquired UniCredit's 81.4 percent stake in DAB Bank.
Aftermath
DAB became part of BNP Paribas and was subsequently reorganized alongside Consorsbank.
Reported acquisition consideration. EUR 354 million (August 2014 transaction)
Recent events
- 2016
Private-customer operations move to BNP Paribas Germany[1]
M&A
The operating private-customer business was transferred to the German branch of BNP Paribas as part of the group's restructuring of its German banking brands.
- 2016
DAB online portal closes and private customers transfer to Consorsbank[1]
Product generation
In November, the DAB online portal was shut down and the remaining private customers were moved to Consorsbank, ending DAB's retail-facing presence.
- 2015
DAB Bank is delisted after BNP Paribas squeeze-out[1]
M&A
After BNP Paribas obtained full ownership through a squeeze-out of remaining minority shareholders, the company's stock-market listing ended on 27 July.
- 2014
BNP Paribas agrees to acquire UniCredit's majority stake in DAB Bank[1]
M&A
BNP Paribas acquired UniCredit's controlling interest in DAB Bank, bringing the German brokerage business into the BNP Paribas group and aligning it with Consorsbank.
- 1999
DAB Bank is listed on the Neuer Markt[1]
Other
The company entered the stock market through the Neuer Markt segment during the expansion of Germany's technology and online-investing sector.
- 1994
DAB Bank begins operations as Germany's first discount broker[1]
Other
Direkt Anlage Bank began operations in May after being established earlier in the year, launching a technology-led discount-brokerage model for German investors.
Sources1 sources
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