Rebuilding

Dr. Rudolf Brinckmann and Paul Wirtz steered the bank – not without personal risk – prudently and quite successfully through the dark period of war and destruction. Currency reform at first resulted in financial losses. Ultimately, however, the conversion of the currency from the reichsmark to the deutsche mark was the basis for continued economic development.

1948    On June 20, 1948, the bank’s balance sheet is 230.5 million reichsmarks and its capital 15.5 million reichsmarks. One day later, on the day of the currency reform, the balance sheet is 25.5 million deutsche marks and the capital 3.1 million deutsche marks.

1949    Following the conclusion of a restitution agreement, the Warburg family, represented by Eric M. Warburg, is once again the owner of the bank.

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