Hammer bank
| Hammer Bank Spadaka eG | |
|---|---|
| Country |
 Germany
|
| Seat | Hamm |
| legal form | Cooperative bank |
| Business data | |
| Total assets | 1.65 billion DM (1983) |
| management | |
| Board | Paul Schulte ( Chairman ) |
| Supervisory board | Günther Göcken ( Chairman ) |
The Hammer Bank or Hammer Bank Spadaka eG - formerly Spar- und Kreditkasse Heessen eG - was a German cooperative bank. In the late 1970s and early 1980s, under the leadership of CEO Paul Schulte, it rose to become the largest credit institution in the city of Hamm in Westphalia at times, and at that time was one of the largest primary banks in the cooperative banking association.
Hammer bank scandal
In mid-June 1984 a special audit according to §44 of the Banking Act by the auditing company Kontinentale Treuhand on behalf of the Federal Banking Supervisory Office caused a scandal that led to the collapse of the institute and, in this context, carried away other commercial enterprises and associations. So was z. For example, SC Eintracht Hamm was affected, which at that time was preparing to move up to the 2nd Bundesliga and which got into financial difficulties due to the failure of Hammer Bank as the main sponsor . Paul Schulte was also chairman of the association there.
The test showed that the 25 most delicate loans examined, with a volume of 317 million German marks - a quarter of the loan volume issued - were inadequate and required a write-down.
The bank had blossomed from a small cooperative bank in the small town of Heessen with total assets of 60 million German marks in 1970 to the largest credit institute in the city of Hamm with total assets of 1.65 billion DM in 1983. Neither the oversized growth rates have annual audits by the Westphalian Cooperative Association in Münster led to 1981 to mistrust in the annual reports can be found by then regularly the sentence: ". The accounting, the annual accounts and the annual report is correct to our statutory audit law and statutes"
It was not until 1982 that the examination was negative, but the management board of Hammer Bank rejected the examiners as biased. They complained that several loans to a group of companies should have been combined into one group loan, and that this would then have been inadmissibly high. A renewed examination by the Bonner Wirtschaftsprüfungsgesellschaft Treuverbund commissioned by Hammer Bank then showed that the transactions were in order again.
Nevertheless, investigations by the Bochum and Dortmund public prosecutors came about in 1984 . While the Dortmund authority was investigating the chairman of the board for aiding and abetting tax evasion, the Bochum public prosecutor's office investigated the suspicion that the bank's credit volume was largely at risk. When reading the private records of Paul Schulte, the then chairman of the bank's board of directors, the public prosecutors found that the Heessen savings and loan fund had been insolvent since around 1975. Since that time, Schulte, presumably together with various helpers, would have faked a healthy credit institution through targeted manipulations. Schulte resigned from his position on July 25 and was sentenced to long prison terms in several court cases. Further special audits by the Westphalian Cooperative Association resulted in total losses of more than 500 million DM. In addition, 600 million DM in large loans were classified as "at least questionable". With a balance sheet total of around 1.6 billion DM reported at the end of 1984, this total of 1.1 billion DM corresponded to about two thirds of the balance sheet total, which was now presumably to be assumed as a loss.
In the course of 1985 the public business was discontinued.
In 1987 Hammer Bank became BAG Bankaktiengesellschaft , a bad bank and 100 percent subsidiary of the Federal Association of German Volksbanks and Raiffeisenbanks with a full banking license . The former Hammer Bank Spadaka eG should actually be completely wound up after its failure. A new stock corporation was created after the necessary reorganization and liquidation of Hammer Bank Spadaka eG had gathered considerable expertise in dealing with risk loans in Hamm. The cooperative bank was dissolved and converted into a stock corporation. The new bank, based in Hamm, now takes care of risk loans from the cooperative banks.
Südringcenter
Hammer Bank's headquarters, the Südringcenter, built between 1981 and 1983, housed the bank's head office and a hotel of the Maritim chain. The complex was sold and today houses, in addition to the Mercure Hotel Hamm, offices of several insurance companies and departments of Commerzbank in Hamm. The bank stock corporation, on the other hand, is based in Hamm-Rhynern today .
Web links
- Homepage of the bank stock corporation
- Die Zeit online: Die Zeit, August 10, 1984 No. 33, only when the public prosecutor came.
- Die Zeit online: Die Zeit, November 22, 1985 No. 48, The search for the people behind it
- Deep reflection . In: Der Spiegel . No. 43 , 1984, pp. 50-57 ( Online - Oct. 22, 1984 , a report on the problems of the cooperative banks and the hammer bank).
- HammWiki - Hammer Bank
proof
- ↑ a b Die Zeit No. 48 of November 22, 1985
- ↑ Archive link ( Memento of the original from September 30, 2011 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. Note from the BAG.
Coordinates: 51 ° 40 ′ 42.9 " N , 7 ° 48 ′ 52" E