of Berlin at
Mühlendamm after the collapse of the Danatbank on 13 July 1931 In 1920/1921, the
Darmstädter Bank für Handel und Industrie and the
Nationalbank für Deutschland formed the bank union
Darmstädter-Nationalbank Berlin. Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks. The merger was fully completed in 1922, resulting in one of the largest commercial banks in Germany. By 1930, Danat-Bank had become Germany's second-largest joint-stock bank, with total deposits of 2.4 billion Reichsmarks ahead of
Dresdner Bank (2.3 billion),
Commerz- und Privatbank (1.5 billion),
Reichs-Kredit-Gesellschaft (619 million), and
Berliner Handels-Gesellschaft (412 million), and only behind
Deutsche Bank & Disconto-Gesellschaft (4.8 billion). In the
European banking crisis of 1931, however, Danat-Bank suffered a run which started around 17 June due to rumours of the insolvency of the Norddeutsche Wollkämmerei & Kammgarnspinnerei (North German Wool and Worsted Yarn Spinning Works), finally going bankrupt on 13 July 1931. It was thus one of the most prominent victims of
deflation in Germany during the
Great Depression. The collapse of Danatbank triggered a loss of confidence in the German banking system, and let loose a wave of withdrawals from all other banks beginning the German Banking Crisis. In reaction, the government announced a Bank Holiday starting on 13 July, imposed further capital controls and forced the merger of Danatbank with
Dresdner Bank. ==Key individuals==