Legal form

Since June 16, 2003, Hamburger Sparkasse AG´s (Haspa) legal form is that of a joint stock company. It has been newly established to assume the outsourced banking business of the former Hamburger Sparkasse which on the same day has been renamed to HASPA Finanzholding. HASPA Finanzholding as Haspa´s parent company is the sole shareholder. HASPA Finanzholding is a legal entity under the old Hamburg law. Haspa is one of the few independent savings banks in Germany unlike the numerous public savings banks. Notwithstanding its private legal form Haspa is a regular member of the German savings bank organisation.