'New links' between Dresdner Bank and Nazis

23rd January 2006, Comments 0 comments

23 January 2006, HAMBURG - A historical study of Dresdner Bank's involvement in the Holocaust has turned up previously unknown links between the German bank, now a subsidiary of the Allianz insurance group, and the Nazis, the news magazine Der Spiegel said Saturday.

23 January 2006

HAMBURG - A historical study of Dresdner Bank's involvement in the Holocaust has turned up previously unknown links between the German bank, now a subsidiary of the Allianz insurance group, and the Nazis, the news magazine Der Spiegel said Saturday.

The report is among studies commissioned by several German corporate giants that want to come clean about 1933-1945 activity that assisted the dictatorship of Adolf Hitler. The Dresdner report is to be issued next month.

Led by modern historian Klaus-Dietmar Henke, the team discovered that Dresdner was a major shareholder in Huta, a construction company that helped build the Auschwitz death camp. Huta built two crematoria to eliminate the bodies and several other blocks at the camp.

The bank was so closely involved with Huta that a banker has chaired its senior board since 1910.

Dresdner opened its archives to the historians from 1997 for the research, which also gave more contour to Dresdner's provision of banking services to the SS, the Nazi Party's separate armed force.

The SS mainly banked at Dresdner and its top leaders obtained accounts with Dresdner on favourable terms.

Herbert Walter, bank chief executive, said the findings were critical of Dresdner, adding, "We must own up to our responsibility."

DPA

Subject: German news

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