Landesbank Baden-Württemberg

Landesbank Baden -Württemberg ( LBBW) is a German credit institution with headquarters in Stuttgart and other seats in Karlsruhe, Mainz and Mannheim in the legal form of an institution under public law.

With over 200 branches and offices mainly in Baden- Württemberg and over 20 other locations worldwide and around 12,000 employees in the Group, Landesbank Baden- Württemberg ( LBBW) is the largest bank in southwest Germany. In the Federal Republic of Germany, it is one by total assets of the ten largest banks of the world's 100 largest banks.

• 2.1 conversion to joint-stock company

• 3.1 LBBW
• 3.2 BW - Bank
• 3.3 Sachsen Bank
• 3.4 Rheinland-Pfalz Bank

History

One of the many LBBW predecessor institutions was one of the first savings banks in Germany. In 1818, Queen Catherine of Württemberg Württemberg savings bank. Its successor, the existing since 1912 Wurttemberg State Savings Bank, merged in 1975 with the Clearing Bank Public Bank and Savings Stuttgart (since 1971) - the successor to the city savings bank, established in 1884 Stuttgart - for Landessparkasse Girokasse - public bank. Starting in 1977, the Institute operated under the name Landesgirokasse Stuttgart ( LG) - Public Bank and National Savings Bank. With recording of payments in 1916, the Central Office of the Württemberg Giroverbands was - Stuttgart founded. In 1975, after three other successor bodies, it is the Municipal Württemberg Landesbank Girozentrale ( WüKoLa ) emerged. End of 1988, it created, in 1987, Landesbank Stuttgart, Girozentrale merged with the existing since 1929 Badische municipal Landesbank - together Girozentrale, a public bank and Pfandbriefanstalt Mannheim ( BAKOLA ) to the southwest German Landesbank ( SüdwestLB ).

In 1998, the LBBW 8,799 employees and total assets of 435.9 billion DM ( 222.9 billion euros ).

On 1 January 1999 he was the involvement of the market part of the state credit union bank of LG and West LB to Landesbank Baden- Württemberg.

At the beginning of 2005, the Landesbank Rheinland- Pfalz ( LRP) has been incorporated as a wholly owned subsidiary in the LBBW Group. On August 1, 2005 the inclusion of BW Bank ( BW-Bank) as a legally dependent institution in LBBW.

As part of this integration, the business unit with private and corporate customers was renamed ( all stores in the Stuttgart area ) of LBBW BW - Bank. The branches of the former BW - Bank got it since August 2005, the current logo. LBBW has since been not more than sponsoring or advertising partners.

On 1 January 2005 Siegfried Jaschinski Hans Dietmar Sauer has replaced as chairman of the board. On 18 July 2005 it accounted for - as with all German Landesbanken - the guarantor liability of state owners.

In August 2007, the takeover of the ailing Landesbank Sachsen was initiated. Following a decision of the Owners' Meeting of 7 March 2008, the Landesbank Sachsen was integrated as a dependent unit into LBBW in April 2008.

On 1 July 2008, the Landesbank Rheinland- Pfalz was retroactively from 1 January 2008 merged into LBBW. The Mainz branch subsequently traded as a regional SME Bank under the name of Rheinland-Pfalz Bank. At the same time, another headquarters LBBW was established in Mainz.

Financial market crisis

In the first nine months of 2008, the Bank made ​​a total of 800 million euro loss. In order to strengthen equity, which was necessary in the wake of the financial crisis, is to get from their owners in 2009 a total of five billion euros in fresh capital LBBW. In addition, the Institute also checks loan guarantees from the federal financial market stabilization fund in the amount of 15 and 20 billion euros to avail.

The discussions about the capital increase in the bodies of the owners, meant that the former CEO Jaschinski loses his office for a "new beginning". As the new chief Hans- Jörg Vetter was named, has been chairman of Landesbank Berlin.

In fiscal year 2008, LBBW made ​​a loss of about 2.1 billion euros. In 2009, the loss of 2.148 billion euros.

Mid-September 2009 it was announced that the company needs to save up to 400 million euros, to meet the requirements of the information required by the European Commission restructuring program. In addition, a workforce reduction of 2,500 jobs. The shareholders increased the share capital of the Bank increased from 1.4 to 6.4 billion euros. A share of 18.9 % of this sum keeps the city of Stuttgart.

On 7 December 2009, the Stuttgart public prosecutors raided the headquarters in Stuttgart and several private homes of acting and former board members. The prosecutor goes after the charges of dereliction of duty, there 's then Executive Board in late 2006 -actuated or approved high-risk investment in the hundreds of millions.

2010, a gain of around 300 million euros was achieved according to HGB accounting; However, according to IFRS, the Bank has continued to result in a loss of around 340 million euros. 2011 had consolidated earnings before taxes from a surplus of 117 million euros.

In 2012, the European Banking Authority said that only those financial interests include the so-called common equity, which are involved in possible losses. She called the owner of the LBBW as well as the owners of other banks to convert their silent participations in liable capital.

Carrier

LBBW is a legal entity of public law. Your carrier are (as of January 6, 2014 ) of the Savings Banks Association of Baden- Württemberg ( 40.534 %), the state of Baden -Württemberg ( 24.988 %), the city of Stuttgart ( 18.932 %), Landesbeteiligungen Baden- Württemberg GmbH ( 13.539 %) and the State Bank Baden- Württemberg - development bank - ( 2.006 %).

Transformation into joint-stock company

On 16 November 2009 it was announced that under pressure from the European Commission in Brussels, LBBW into a stock corporation (AG) or stock company under European law (SE ) needs to be converted, but the existing owners can stay until further owner of the bank after the conversion. On 15 December 2009, the European Commission has approved the conversion of the LBBW in an AG. The conversion into a corporation is 2013.

Business

Landesbank Baden -Württemberg is a universal bank and an international commercial bank with full business and freedom of establishment. Together with the legally dependent institutions Baden -Württemberg Bank ( BW-Bank), Rheinland-Pfalz Bank and Sachsen Bank and specialist subsidiaries, it operates in all areas of business of a major bank.

LBBW

As the parent of LBBW is responsible for managing tasks for the entire Group. In addition, it combines the expertise for the Financial Markets segment, from the balance sheet and portfolio advice on the development of financial market products to trading and sales activities on the international capital market, the Treasury and the Research. Directly responsible for LBBW manages national and international corporate clients, institutional clients and public institutions. Other focal points are the central savings bank function for the savings banks in Baden -Württemberg, Rhineland -Palatinate and Saxony as well as international business and specialty products such as leveraged finance or structured finance. Further, in the LBBW all support and settlement functions are summarized.

BW - Bank

Focus of the BW - Bank as the operating unit within the LBBW is the private and corporate customers in its core market of Baden- Württemberg. The product portfolio for enterprise customers focused on medium-sized and in addition to traditional financing services and payment transactions and asset management. In the area of Stuttgart, BW-Bank for LBBW as a savings bank.

Sachsen Bank

Sachsen Bank was established on 1 April 2008 as a legally dependent institution Landesbank Baden- Wuerttemberg and originated from the Regional Customer Business at Landesbank Sachsen and the branches of the Baden- Württemberg Bank ( BW-Bank) in Halle, Leipzig and Dresden.

The Saxons Bank operates the medium-sized corporate clients and private clients franchise LBBW in Central Germany (Saxony, Saxony -Anhalt, Thuringia ) and the neighboring areas and controls in these areas of business the future market launch of the LBBW Group in Poland and the Czech Republic. The broad product and service portfolio of the LBBW is connected to the customers near a independently operating regional bank.

The Saxons Bank is represented by at April 2012 in Leipzig, Dresden, Halle, Chemnitz, Magdeburg and Erfurt. It employs state by June 2013 a little more than 100 employees. Chairman of the Board, Harald R. Pfab.

The art prize of Sachsen Bank is awarded every two years with the Museum of Fine Arts in Leipzig.

Rheinland-Pfalz Bank

The Rheinland-Pfalz Bank was established on 1 July 2008 as a legally dependent institution Landesbank Baden- Württemberg. It was created by treaty between the countries of Rhineland- Palatinate and Baden- Wuerttemberg from the previous LRP Landesbank Rheinland- Pfalz, which was united by fusion with Landesbank Baden- Württemberg.

Core business areas of Rheinland-Pfalz Bank are the corporate customer business and business with key accounts in Rhineland -Palatinate, North Rhine -Westphalia and Hesse, the business with selected institutional clients and private banking.

Indicators

Subsidiaries and associated companies

Subsidiaries and investees complete the offer of the Landesbank Baden- Württemberg. The range of services extends from leasing and factoring on the management of special securities funds and equity financing to special financial services for local communities and a comprehensive range of services around the real estate sector.

Selection in subsidiaries

• BWInvest Baden -Württemberg mbH Investment
• Cellent AG, IT consulting and service company
• Cellent Finance Solutions GmbH
• LBBW Immobilien GmbH
• LBBW Leasing GmbH
• LBBW Venture Capital GmbH
• LHI Leasing GmbH
• MKB Mittelrheinische Bank GmbH
• MMV Leasing GmbH
• SüdFactoring GmbH
• Südleasing GmbH

LBBW Immobilien GmbH, with approximately 21,500 dwellings in mid Feb. 2012 sold for 1.435 billion euros to a consortium of investors from insurance companies and pension funds under management of the real estate manager Patrizia Immobilien.

CEO

• Werner Schmidt (1999-2001)
• Hans Dietmar Sauer (2001-2004)
• Siegfried Jaschinski (2005-2009)
• Hans -Jörg Vetter ( since 2009)