German building society Badenia

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  Deutsche Bausparkasse Badenia AG
logo
Country GermanyGermany Germany
Seat Karlsruhe
legal form Corporation
Bank code 660 102 00
BIC BBSP DE6K XXX
founding 1925
Website www.badenia.de
Business data 2015
Total assets 5,206.7 million euros
insoles 4,342.7 million euros
Customer credit 3,540.6 million euros
Employee 559 (annual average)
management
Board Christof Schick (Chairman)
Adolf Brockhoff
Supervisory board Jochen Petin (Chairman)

The German Bausparkasse Badenia AG is a private building society with headquarters in Karlsruhe . The institute emerged in July 2000 from the merger of DBS Deutsche Bausparkasse AG in Darmstadt and Badenia Bausparkasse AG in Karlsruhe. It belongs to the Generali Deutschland Group.

history

In 1925 the Deutsche Bau- und Siedelungsgemeinschaft (DBS) eGmbH was founded in Darmstadt. In 1940 the institute changed its name to Deutsche Bausparkasse (DBS) eGmbH. In 1977 the company was converted into a stock corporation and finally in 1981 the company was renamed DBS Deutsche Bausparkasse AG . In the time before the merger, the majority of the company belonged to the Italian Generali insurance group.

BADENIA Hypotheken- und Bausparkasse GmbH was founded in Karlsruhe in 1931. From 1939 the company traded as BADENIA Bausparkasse GmbH. In 1983 it changed its legal form to a stock corporation and became BADENIA Bausparkasse AG. In the following years, the majority of the company gradually became the property of Aachener und Münchener Lebensversicherung AG (AML) and Aachener und Münchener Versicherung AG (AMV) in Aachen. When the insurance holding Aachener und Münchener Beteiligungs-AG (AMB) joined the Volksfürsorge insurance group, Volksfürsorge Lebensversicherung AG took a stake in 1990 as a minority shareholder in BADENIA Bausparkasse AG . In 1991, as the holding company of the AM Group, AMB then took over the majority of shares in Badenia from its daughters AML and AMV.

In 1998 the Assicurazioni Generali SpA from Trieste acquired the majority in AMB Aachener und Münchener Beteiligungs-AG (AMB). The two building society subsidiaries of Generali - Badenia Bausparkasse and DBS Deutsche Bausparkasse - then merged in July 2000.

Today the Deutsche Bausparkasse Badenia AG is a 100% subsidiary of Generali Deutschland Holding AG (Cologne). The spokesman for the board has been Christof Schick since 2015. Another board member is Adolf Brockhoff. Jochen Petin is the chairman of the supervisory board.

Companies

Deutsche Bausparkasse Badenia AG is the residential provision specialist within the Generali Deutschland Group. In addition to building society savings, their portfolio includes pre-financing and bridging loans, real estate loans, products for home retirement and financial investments.

Badenia operates nationwide and looks after around 1.1 million customers. In April 2014 it was rated “BBB +” by Standard & Poor's and in October 2014 it was rated “A-” by the GBB rating company for creditworthiness assessments.

As of December 31, 2014, your home loan and savings contract portfolio amounted to 24.4 billion euros. The balance sheet total was 5.3 billion euros. In 2014, the company employed an average of 585 people.

The Badenia products are brokered by the financial advisors of Deutsche Vermögensberatung AG (DVAG) and the brokers of Generali Deutschland . In addition to new construction and acquisitions, the Bausparkasse is increasingly financing renovation and expansion measures - increasingly for projects that aim to save energy and self-supply.

In February 2015, the company launched its current tariff Via Badenia 15. This is the basis for the ImmoFit and ImmoStart products. In the area of ​​immediate financing, the intended use for the ImmoSofort product has been expanded. All modernization measures have been approved here since February.

criticism

In recent years, the company has come under fire for financing condominiums, so-called junk properties . The Dortmund sales company Heinen & Biege brokered the objects that were financed by Badenia in the 1990s. Heinen & Biege is said to have deliberately deceived the buyers. Of the 6,746 apartments sold in 53 cities, over half came from the Neue Heimat portfolio . Their housing stock in Lower Saxony and Hamburg had been transferred to Allwo , a joint venture between Aachen and Munich , Badenia and BGAG , a subsidiary of the German Federation of Trade Unions . In this context, it is hardly known that the Heinen & Biege company also sold new apartments. This company also marketed prefabricated apartments in the new federal states. Many buyers suffered great losses as the often poor quality apartments were sold well above their objective value.

In addition to Heinen & Biege, a sales company in Harsewinkel near Bielefeld and DOMAX Immobilienmanagement AG sold apartments in a package with Badenia financing in the 1990s. According to the information provided by the former CEO of Badenia Bausparkasse, Dietrich Schroeder , no such special financing was carried out during his term of office (May 1, 2002 to December 31, 2008).

The Higher Regional Court of Karlsruhe recognized in November 2004 (OLG Karlsruhe 15 U 4/01) of a bruised investor, to a claim for damages against the Badenia and put the applicant in its judgment of all debts to the Badenia free. In addition, Badenia should have to take over the condominium, in which the investor was no longer interested. The Federal Court of Justice overturned this judgment on March 20, 2007 (XI ZR 414/04) because of serious errors by the lower court and referred the matter back to another Senate of the Karlsruhe Higher Regional Court. The remittal was made because the lower court had not given Badenia the opportunity to exonerate itself from the presumption that it had knowledge of fraudulent deception of the investors. However, the court found that there had been such fraudulent misrepresentation on the part of the intermediaries and that Badenia worked so closely with these intermediaries that it had to prove that it had no knowledge of the deception of the investors.

On November 23, 2007, the 17th civil senate of the Karlsruhe Higher Regional Court (17 U 85/07) issued a judgment of acknowledgment against the Deutsche Bausparkasse Badenia, after the Senate had set a date for an oral hearing and evidence. Before the trial date, Badenia had fully recognized the claim asserted against it, so the Senate changed the dismissing judgment of the Karlsruhe Regional Court of December 5, 2000 (11 O 95/00) and sentenced Badenia to completely reverse the deal.

Badenia financed real estate in Schwelm and Delmenhorst . In the case of these properties, there was a large number of indications that Badenia knew that the agents provided incorrect information about the market value and rental income per apartment. Therefore, in the following period, Badenia was generally only prepared to adopt general, comparative regulations that were favorable to the buyer .

With regard to other properties, the prevailing case law of the higher regional courts has so far assumed that these were generally not sold at an immoral overpriced price (i.e. 100% above market value ) and that the information regarding the expected rental income was not incorrect.

With judgment of June 29, 2010 (XI ZR 104/08) the Federal Court of Justice confirmed a judgment of the Schleswig-Holstein Higher Regional Court, according to which the use of a "property and financing brokerage order ", which contained information on the amount of sales commissions, by the individual of Heinen & Biege engaged agents represented a malicious deception of the customers attributable to Badenia, if in fact much higher commissions than stated there had actually flowed. With a decision of April 5, 2011 (XI ZR 365/09), the Federal Court of Justice also rejected Badenia's complaint against the non-admission of the appeal by the Cologne Higher Regional Court on the grounds that the Higher Regional Court had correctly assumed that Badenia was with one in 1999 In view of the considerable economic difficulties that the Heinen & Biege Group, as its simultaneous creditors, has had since the end of 1998, the financing undertaken was obliged to notify the customer of a serious conflict of interest arising as a result, which is why it is obliged to pay the customer compensation.

Badenia has been on Stiftung Warentest's financial test warning list since 2002 . Badenia is not included in the current warning list (04/2012 to 04/2014).

Web links

swell

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ Annual report 2014
  3. ↑ Badenia Ratings. Retrieved March 15, 2013 .
  4. ^ Jochen Schönmann: Federal Court of Justice. Badenia should atone for scrap real estate. In: Der Spiegel. March 19, 2007, accessed March 23, 2007 .
  5. ↑ immoschaden.de, Heinen und Biege object list, sorted according to various criteria
  6. ↑ BGH AZ XI ZR 414/04
  7. ^ Judgment of the Higher Regional Court of Karlsruhe - 17 U 85 / 07- Acknowledgment of the Deutsche Bausparkasse Badenia
  8. ^ Judgment of the Federal Court of Justice of June 29, 2010 - XI ZR 104/08
  9. ^ Decision of the Federal Court of Justice of April 5, 2011 - XI ZR 365/09 -
  10. ^ Stiftung Warentest: Warning list of investment offers

Coordinates: 48 ° 58 ′ 54.7 ″  N , 8 ° 22 ′ 10.2 ″  E