IKB International
| IKB International SA in liquidation | |
|---|---|
| Country |
 Luxembourg
|
| Seat | Luxembourg |
| legal form | Société Anonyme en liquidation |
| BIC | IKBDLUA1XXX |
| founding | 1979 |
| Website | www.ikb-international.de |
| Business data 2009/2010 | |
| Total assets | 3.6 billion € |
| Employee | 3 |
The IKB International SA in liquidation is a subsidiary of IKB German industrial bank AG.
history
The company, which was founded in 1979 under Luxembourg law, is responsible for all banking and financial transactions. The core business was lending to medium-sized German companies. As an internal competence center for foreign currency financing, structured financing and financial risk management, the financial risk management business area for medium-sized companies was systematically expanded from 2000 onwards.
For this purpose, IKB International SA and Unicredit Banca Mobiliare founded the joint venture IKB CorporateLab in Luxembourg in 2003 to develop derivatives and sell them to medium-sized companies. However, due to the sale of HypoVereinsbank to the Unicredit Group in 2005, the business basis for the IKB CorporateLab joint venture ceased, which is why the joint venture was discontinued in 2005.
With the successful implementation of a group structure project that made it possible to administer foreign currency loans in Germany, the board of directors of IKB International SA decided in 2005 to completely discontinue the lending business in Luxembourg in order to concentrate on the financial risk management business area should be operated from the German branches in the future. In addition, greater investments were made in AAA ABS portfolios in order to stabilize the interest result. As a result of write-downs on the securitized portfolios in the wake of the financial crisis , the company fell massively into the red from 2007 and could only be maintained through equity measures by the parent company IKB Deutsche Industriebank AG .
Due to the EU requirements, the existing business will be reduced by 2012 and the Luxembourg location will then be abandoned.
IKB International SA ceased its business operations for IKB Deutsche Industriebank (Group) on March 31, 2011 due to EU requirements and has been continued as a settlement company since April 1, 2011. As a result of its banking license under the Luxembourg Financial Sector Act of April 5, 1993, as amended, IKB International SA surrendered it on March 31, 2011.
Web links
Individual evidence
- ↑ Entry in the BIC directory at SWIFT
- ↑ IKB International SA: Annual Report 2009/2010. Retrieved April 1, 2011 .
- ↑ IKB gives up Luxembourg ( memento of October 29, 2008 in the Internet Archive )
- ↑ IKB does not want to dismiss employees in the Grand Duchy until June 2010 ( page can no longer be accessed , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ EU Commission approves IKB subsidies under strict conditions ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ^ Website of IKB International SA in Liquidation
