Social Economy Bank

Bank for Social Economy AG
Country	Germany
Seat	Cologne and Berlin
legal form	Corporation
Bank code	370 205 00
BIC	BFSW DE33 XXX
founding	1923
Association	Federation of German Volksbanks and Raiffeisenbanks
Website	www.sozialbank.de
Business data 2017
Total assets	8,652.5 million euros
insoles	6,534.7 million euros
Customer credit	5,480.3 million euros
Employee	464
Offices	16
management
Board	Harald Schmitz (Chairman) Thomas Kahleis Oliver Luckner
Supervisory board	Matthias Berger (Chairman)

The Bank für Sozialwirtschaft AG ( BFS ; " Social Bank ") is a special bank for companies , institutions and organizations in the fields of health , social affairs (senior, disabled, child and youth welfare) and education based in Cologne and Berlin .

Bearer of the bank

The bank was established in March 1923 at the suggestion of the Reich Ministry of Labor as a financing institute for voluntary welfare and initially traded as "Aid Funds for non-profit welfare institutions in Germany GmbH". In 1929 the merger to form the “Professional Association for Health Services and Welfare Care” took place. The shareholders of the bank are still the central associations of the voluntary welfare organization and their foundations .

The main shareholders include the Caritas Foundation Germany and the Kronenkreuz Foundation ( Diakonisches Werk ), each with 26% of the shares, the Arbeiterwohlfahrt , the Paritätische Wohlfahrtsverband , the German Red Cross and the Central Welfare Office for Jews . The federal and regional associations of voluntary welfare and their affiliated institutions together hold more than 80% of the company's shares. The remaining shares are in free float .

The bank's supervisory board includes Norbert-Christian Emmerich , Christian Graf von Bassewitz , Ulrich Schneider and Ulrich Lilie .

Business purpose

The BFS offers the entire range of services of a universal bank. However, it is a specialist bank in view of its limited clientele . The advice focuses on traditional customer business and, in addition to the banking aspects, also includes the financing conditions of the social and health economy . These are primarily shaped by social insurance and social legislation . In addition, the Bank für Sozialwirtschaft AG offers industry-specific products and services for donation organizations.

An extensive seminar program as well as publications and lectures on current legal and economic issues in the social and health economy round off the range of services offered by the FSO.

The Bank für Sozialwirtschaft works at 16 locations in Germany (Berlin, Dresden, Erfurt, Essen, Hamburg, Hanover, Karlsruhe, Kassel, Cologne, Leipzig, Magdeburg, Mainz, Munich, Nuremberg, Rostock, Stuttgart) and operates a European office in Brussels.

BFS Service GmbH

BFS Service GmbH was founded in 1989 as a subsidiary of the Bank für Sozialwirtschaft. It is based in the Rheinauhafen in Cologne. The purchase of accounts receivable (factoring) is the main business area of ​​BFS Service GmbH. Customers include a. Outpatient nursing services, emergency services, ambulance transport, hospitals and rehabilitation clinics that pre-finance their services through BFS Service GmbH. In addition, the company has specialized in the areas of consulting and analysis as well as the preparation of reports (mortgage lending value reports, traffic and market value reports) for the health and social economy.

Three consulting units operate within BFS Service GmbH, which are divided into the following areas:

• Competence center for the social economy (including competition, labor market and (municipal) social market analyzes, strategy consulting, investor and operator placement)
• Competence center health economy (advice, analyzes and studies for hospitals, rehabilitation facilities, medical care centers, medical centers, investors, credit institutions, etc.)
• Project consulting for social real estate (project developments for new buildings, conversions and extensions, plausibility checks of project developments and developments of real estate strategies and portfolio analyzes)

Key figures

Code number	2019	2018	2017	2016	2015	2014	2013	2012
Balance sheet total (in EUR million)	8,683.7	8,835.8	8,652.5	8,693.6	9,360.5	9,314.8	8,669.6	7,314.7
Average number of employees (full and part-time employees)	481	482	413	407	374	354	339

Accusation of anti-Semitism

In 2018, the Simon Wiesenthal Center listed the bank in its annual list of the ten worst global anti-Semitic incidents. The background to this was an account that the Jewish Voice for Just Peace in the Middle East had with her. This group of Jews and Israelis is associated with Boycott, Divestment and Sanctions by various sources . The account was terminated, which in turn led to protests. The bank then commissioned Juliane Wetzel , an employee of the Berlin Center for Research on Antisemitism, to check whether the Jewish voice was anti-Semitic or not. This also led to protests: Iris Hefets from the board of directors of the Jewish Voice was outraged in January 2019 that her organization, which consists exclusively of Jews, was to be “found guilty or acquitted of anti-Semitism” on behalf of a German bank by a German expert. In a press release, the bank firmly rejected the accusation of anti-Semitism. She maintains no business relationships with the BDS campaign, nor does she support the movement's objectives: “Boycott measures aimed at destabilizing the State of Israel are incompatible with our corporate principles. The BDS campaign would never get an account with us. "

Web links

• Bank for social economy in the company database of BaFin
• Website of the Bank for Social Economy

Individual evidence

1. ↑ ^{a b} Master data of the credit institute at the Deutsche Bundesbank
2. ↑ Annual report 2017
3. ^ Fritz Knapp-Verlag, Journal for the entire credit system , Volume 27, 1974, p. 104
4. ^ F. Vahlen Verlag, Social Work , Volume 58, 2009, p. 210
5. ^ Bank for Social Economy: Shareholders. In: Website of the Bank for Social Economy. Retrieved January 25, 2013 . 
6. ↑ ^{a b} Annual Report 2017. (Online document) Bank für Sozialwirtschaft, Deloitte GmbH Wirtschaftsprüfungsgesellschaft, March 13, 2018, pp. 7, 72 , accessed on April 5, 2018 ( Download (PDF; 1.8 MB) ). 
7. ^ BFS Service GmbH: BFS Service GmbH. Retrieved June 30, 2020 . 
8. ↑ Bank für Sozialwirtschaft: Annual Report 2019. Accessed June 30, 2020 . 
9. ↑ Bank für Sozialwirtschaft: Annual Report 2018. Accessed June 30, 2020 . 
10. ↑ Annual Report 2016. (PDF; 1.5 MB) Bank für Sozialwirtschaft, Deloitte GmbH Wirtschaftsprüfungsgesellschaft, March 16, 2017, pp. 7, 74 , accessed on April 5, 2018 . 
11. ↑ Annual Report 2015. (PDF; 0.7 MB) Bank für Sozialwirtschaft, Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, February 29, 2016, p. 7, 78 , accessed on April 5, 2018 . 
12. ↑ Annual Report 2014. (PDF; 1.6 MB) Bank für Sozialwirtschaft, BDO AG Wirtschaftsprüfungsgesellschaft, March 6, 2015, p. 6, 68 , accessed on April 5, 2018 . 
13. ↑ ^{a b} Annual Report 2013 (PDF; 1.9 MB) Bank für Sozialwirtschaft, BDO AG Wirtschaftsprüfungsgesellschaft, March 18, 2014, p. 6, 65 , accessed on April 5, 2018 . 
14. ↑ 2018 Top Ten Worst Global Antisemitic Incidents ( Memento of the original from December 28, 2018 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. on wiesenthal.com , accessed January 11, 2019. 
15. ↑ Stefan Reinecke : Between the Chairs. In: taz of January 11, 2019, p. 3.
16. ↑ Statement by the Bank für Sozialwirtschaft on the “Worst Global Anti-Semitic Incidents” listing of the Simon Wiesenthal Center , December 28, 2018, accessed on January 13, 2019.

Coordinates: 50 ° 57 ′ 7.6 ″  N , 6 ° 58 ′ 0.9 ″  E