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Bayerische Landesbank
Bayerische Landesbank, also known as BayernLB, is a publicly regulated bank based in Munich, Germany and one of the six Landesbanken. It is 75% owned by the Free State of Bavaria (indirectly via BayernLB Holding AG) and 25% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen. With a balance of €285,70 billion and 7,703 employees (in the group; 3,343 in the bank itself), it is the seventh-largest financial institution in Germany.
BayernLB has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.
As a commercial bank, BayernLB Group offers private and commercial customers a universal range of services in private, industrial, investment and foreign business. This includes loans, securities trading and asset management, as well as mid-term and long-term bond issuance and securitization. The bank is refinanced through a variety of commercial debenture instruments.
As a state and municipal bank, BayernLB is responsible for comprehensive credit and financial counsel for the state of Bavaria and its municipalities and districts.
Through its subsidiaries, the bank is involved in a variety of further business areas. The Bayerische Landesbodenkreditanstalt is an organ of state housing policy. Through its full ownership of the Deutsche Kreditbank, based in Berlin, BayernLB is also involved in retail banking.
Through its predecessor, the Bayerische Gemeindebank (founded 1914), and its much older subsidiary, the Bayerische Landesbodenkreditanstalt (founded 1884), BayernLB can claim to have more than 100 years of history. In its current form, the bank was founded by law on June 27, 1972, through the merger of the two institutions. Its first President was CSU veteran politician Karl Theodor Jacob. Later managers and Board members would also frequently be drawn from politics.
The bank expanded internationally in the 1990s, gaining toeholds in East Asia, Eastern Europe and the United States. Through the 2007 acquisition of a 50.01% share in Hypo Alpe-Adria-Bank International for a sum of €1.625 billion, BayernLB expanded its geographic presence to Austria and the Balkans.
In early 2008 it was revealed that BayernLB had made large losses due to investments in sub-prime mortgage securities in the United States. Although the extent of these investments has been the topic of speculation, it was revealed from the company's Q2 2008 financial report that over €24 billion had been invested in critical securities, with losses of 2.3 billion euros in 2007 and a further 2 billion euros in the first quarter of 2008.
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Bayerische Landesbank
Bayerische Landesbank, also known as BayernLB, is a publicly regulated bank based in Munich, Germany and one of the six Landesbanken. It is 75% owned by the Free State of Bavaria (indirectly via BayernLB Holding AG) and 25% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen. With a balance of €285,70 billion and 7,703 employees (in the group; 3,343 in the bank itself), it is the seventh-largest financial institution in Germany.
BayernLB has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.
As a commercial bank, BayernLB Group offers private and commercial customers a universal range of services in private, industrial, investment and foreign business. This includes loans, securities trading and asset management, as well as mid-term and long-term bond issuance and securitization. The bank is refinanced through a variety of commercial debenture instruments.
As a state and municipal bank, BayernLB is responsible for comprehensive credit and financial counsel for the state of Bavaria and its municipalities and districts.
Through its subsidiaries, the bank is involved in a variety of further business areas. The Bayerische Landesbodenkreditanstalt is an organ of state housing policy. Through its full ownership of the Deutsche Kreditbank, based in Berlin, BayernLB is also involved in retail banking.
Through its predecessor, the Bayerische Gemeindebank (founded 1914), and its much older subsidiary, the Bayerische Landesbodenkreditanstalt (founded 1884), BayernLB can claim to have more than 100 years of history. In its current form, the bank was founded by law on June 27, 1972, through the merger of the two institutions. Its first President was CSU veteran politician Karl Theodor Jacob. Later managers and Board members would also frequently be drawn from politics.
The bank expanded internationally in the 1990s, gaining toeholds in East Asia, Eastern Europe and the United States. Through the 2007 acquisition of a 50.01% share in Hypo Alpe-Adria-Bank International for a sum of €1.625 billion, BayernLB expanded its geographic presence to Austria and the Balkans.
In early 2008 it was revealed that BayernLB had made large losses due to investments in sub-prime mortgage securities in the United States. Although the extent of these investments has been the topic of speculation, it was revealed from the company's Q2 2008 financial report that over €24 billion had been invested in critical securities, with losses of 2.3 billion euros in 2007 and a further 2 billion euros in the first quarter of 2008.