Landesbank Baden-Württemberg

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  Landesbank Baden-Württemberg
logo
Country GermanyGermany Germany
Seat Stuttgart
Further headquarters of LBBW are Karlsruhe, Mainz and Mannheim.
legal form Institute of public right
Bank code 600 501 01
BIC SOLA DEST 600
founding January 1, 1999
Website www.lbbw.de
Business data 2019
Total assets EUR 256.6 billion
insoles EUR 90.319 billion
Customer credit EUR 111.197 billion
Employee 10,005
management
Board Rainer Neske (Chairman)
Karl Manfred Lochner
Christian Ricken
Thorsten Schönenberger
Volker Wirth
Supervisory board Christian Brand (Chairman)
Building of the Landesbank Baden-Württemberg at the Stuttgart headquarters, at the main train station , Kurt-Georg-Kiesinger-Platz
Glass building on Heilbronner Strasse
Flank seen from the platforms
Mannheim headquarters at the Augustaanlage

The Landesbank Baden-Württemberg ( LBBW ) is a German financial institution with headquarters in Stuttgart . With total assets of around 257 billion euros (as of 2019), it is Germany's largest Landesbank .

With around 10,000 employees mainly in Baden-Württemberg and at 18 locations worldwide, LBBW is one of the ten largest credit institutions in the Federal Republic of Germany in terms of total assets and one of the world's 100 largest banks .

The Common Equity Tier 1 capital ratio according to the Equity Directive was 14.6 percent at the end of 2019. This made LBBW one of the best capitalized banks in Germany.

history

One of the numerous LBBW predecessor institutions was one of the first savings banks in Germany. In 1818, Queen Katharina von Württemberg founded the Württembergische Spar-Casse . Its legal successor, the Württembergische Landessparkasse , which has existed since 1912 , merged in 1975 with the Girokasse Public Bank and Sparkasse Stuttgart (since 1971) - the successor to the Städtische Sparkasse Stuttgart  , founded in 1884 - to become the Landessparkasse Girokasse - public bank . From 1977 the institute operated under the name Landesgirokasse Stuttgart (LG) - public bank and state savings bank.

With the start of payment transactions in 1916, the central office of the Württemberg Giro Association - Stuttgart was founded. In 1975, after three other successor institutes, the Württembergische Kommunale Landesbank, Girozentrale (WüKoLa) emerged. At the end of 1988, the resulting Landesbank Stuttgart, Girozentrale , which had existed since 1987, merged with the Badische Kommunalen Landesbank - Girozentrale, public bank and Pfandbriefanstalt Mannheim (BaKoLa), which had existed since 1929, to form the Südwestdeutsche Landesbank (SüdwestLB) .

In 1998 LBBW had 8,799 employees and total assets of 435.9 billion DM (222.9 billion euros). On January 1, 1999, the merger of LG and Südwest LB to form Landesbank Baden-Württemberg took place with the inclusion of the market segment of the Landeskreditbank .

At the beginning of 2005, Landesbank Rheinland-Pfalz (LRP) was integrated into the LBBW Group as a wholly owned subsidiary. On August 1, 2005, the Baden-Württembergische Bank (BW-Bank) was incorporated into LBBW as a legally dependent institution. In the course of this integration, the business area with private and corporate customers (all branches in the Stuttgart area) was renamed from LBBW to BW-Bank. The branches of the former BW Bank received the logo that has been in effect since August 2005. Since then, LBBW has no longer acted as a sponsor or advertising partner. On January 1, 2005, Siegfried Jaschinski replaced Hans Dietmar Sauer as chairman of the board. On July 18, 2005 - as with all German Landesbanken - the guarantor liability of the state owners ceased.

In August 2007, the takeover of the ailing Landesbank Sachsen was initiated. Following a resolution by the owners' meeting on March 7, 2008, Landesbank Sachsen was integrated into LBBW as a dependent unit in April 2008. On July 1, 2008, the Landesbank Rheinland-Pfalz was also merged with LBBW with retroactive effect from January 1, 2008. Since then, the Mainz branch has operated as a regional Mittelstandsbank under the name of Rheinland-Pfalz Bank. At the same time, another LBBW headquarters was established at the Mainz location.

On November 16, 2009 it became known that under pressure from the EU Commission in Brussels, LBBW had to be converted into a stock corporation (AG) or a stock corporation under European law (SE), although the previous owners were to remain the owners of the bank until further notice can. On December 15, 2009, the EU Commission confirmed the conversion of LBBW into an AG, which was planned for 2013. In the same year, the EU Commission revised this requirement: LBBW may remain an institution under public law.

Due to the renovation of the counter hall at Stuttgart Central Station as a result of the Stuttgart 21 rail project , Deutsche Bahn will be housed in the bank building with the DB lounge and waiting rooms from June 2019 to probably the end of 2023.

In May 2020, LBBW announced that it would sell its entire stake in the Düsseldorf bank HSBC Germany to the British parent company. The Landesbank had held this stake since 1991 as a pure financial investment.

carrier

LBBW is a legal entity under public law. Its sponsors are (as of January 18, 2016) the Sparkassenverband Baden-Württemberg , the state of Baden-Württemberg , the city of Stuttgart and the Landesbeteiligungen Baden-Württemberg GmbH.

proportion of carrier
40.534% Sparkassenverband Baden-Württemberg
24.988% State of Baden-Württemberg
18.932% City of Stuttgart
15.546% Landesbeteiligungen Baden-Württemberg GmbH

Business areas

Landesbank Baden-Württemberg is a universal bank and an international commercial bank with full freedom of business and establishment. Together with the legally dependent institutions Baden-Württembergische Bank (BW-Bank), Rheinland-Pfalz Bank and Sachsen Bank, as well as specialized subsidiaries, it is active in all business areas of a major bank.

LBBW

As the group umbrella, LBBW is responsible for controlling the entire group. In addition, it bundles the competencies for the Financial Markets business area , from balance sheet and portfolio advice to the development of financial market products to trading and sales on the international capital market , treasury and research. LBBW has direct responsibility for supporting supraregional and international corporate customers , institutional customers and public institutions . Other focal points are the savings bank central bank function for the savings banks in Baden-Württemberg, Rhineland-Palatinate and Saxony as well as international business and special products such as B. Leverage Finance or Structured Finance. Furthermore, all staff and processing functions are combined at LBBW.

BW bank

As an operational unit within LBBW, BW-Bank focuses on private and corporate customer business in the core market of Baden-Württemberg. The product portfolio for corporate customers is focused on medium-sized companies and, in addition to classic financing services, also includes payment transactions and asset management . In the area of ​​the state capital Stuttgart, BW-Bank fulfills the tasks of a savings bank for LBBW.

Sachsen Bank

The Sachsen Bank was established on 1 April 2008 as a legally dependent institution of Landesbank Baden-Wuerttemberg and emerged from the regional client business of Landesbank Sachsen and the branches of the Baden-Württembergische Bank (BW-Bank) in Halle, Leipzig and Dresden.

Sachsen Bank operates the medium-sized corporate and private customer business of LBBW in Central Germany ( Saxony , Saxony-Anhalt , Thuringia ) and the neighboring economic areas and controls the future market presence of the LBBW Group in Poland and the Czech Republic in these business areas. LBBW's broad product and service portfolio is combined with the customer proximity of an independently operating regional bank.

Sachsen Bank is represented in Leipzig, Dresden, Halle, Chemnitz, Magdeburg and Erfurt. The chairman of the board was Harald R. Pfab, and Oliver Fern has held this position since January 2014.

The Sachsen Bank art prize was awarded every two years until 2014 with the Museum of Fine Arts Leipzig.

As of March 31, 2018, Sachsen Bank was legally dissolved as a dependent unit of LBBW. It has 280 employees. The Landesbank is thus trying to simplify its structure.

Rhineland-Palatinate Bank

The Rheinland-Pfalz Bank was established on July 1, 2008 as a legally dependent institution of the Landesbank Baden-Württemberg. It was created by treaty between the countries of Rhineland-Palatinate and Baden-Wuerttemberg from the former LRP Landesbank Rheinland-Pfalz , which through fusion was combined with the Landesbank Baden-Württemberg.

The core business areas of Rheinland-Pfalz Bank are corporate customer business and business with key accounts in Rhineland-Palatinate, North Rhine-Westphalia and Hesse, business with selected institutional customers and private banking. As of March 31, 2019, the Rheinland-Pfalz Bank was legally dissolved as a dependent unit of LBBW.

Branches & German Centers

Landesbank Baden-Württemberg has branches in New York, London, Seoul and Singapore, as well as representative offices in a further eleven countries worldwide.

The bank has a delegate office in Zurich.

The "German Centers" are intended to facilitate market entry in Asia and Central America for customers. LBBW thus offers export-oriented customers a range of tools alongside traditional financial services. In addition to Singapore, locations for this are Beijing, Mexico City and Moscow.

Key figures

heading 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017. 2018 2019
Balance sheet total (billion €) 417.3 443.4 447.7 411.7 374.4 373.1 336.3 274.6 266.2 234.0 243.6 238 241.2 256.6
Earnings after taxes (€ million) 931 311 −2,112 −1,482 -363 66 398 339 438 425 11 419 420 444
Number of employees 11,999 12.303 13,369 13,630 13,061 12,231 11,642 11.308 11,117 11,120 10,839 10,326 10,017 10,005

Subsidiaries and associated companies

Selection of subsidiaries

In February 2012, LBBW Immobilien GmbH sold around 21,500 apartments for 1.435 billion euros to an investor consortium made up of insurance companies and pension funds under the leadership of the property manager Patrizia AG .

CEO

Financial market crisis

In the first nine months of 2008, the bank made a total of 800 million euros in loss. In order to strengthen equity capital, which became necessary in the wake of the financial market crisis, LBBW is to receive a total of five billion euros in fresh capital from its owners in 2009. In addition, the institute is also looking into drawing on loan guarantees from the federal financial market stabilization fund in the amount of 15 to 20 billion euros.

The discussions about the capital increase in the owners' committees led to the previous chairman of the board, Jaschinski, losing his position for a “fresh start”. Hans-Jörg Vetter, previously Chairman of the Landesbank Berlin, was named as the new boss .

In the 2008 financial year, LBBW made a loss of around EUR 2.1 billion. In 2009 the loss was 2.148 billion euros.

In mid-September 2009 it became known that the company would have to save up to 400 million euros in order to meet the requirements of the restructuring program required by the EU Commission. In addition, there will be 2,500 job cuts. The shareholders increased the bank's share capital from 1.4 to 6.4 billion euros. The City of Stuttgart holds a share of 18.9% of this sum.

On December 7, 2009, the Stuttgart public prosecutor's office searched the corporate headquarters in Stuttgart and several private apartments of incumbent and former board members. The public prosecutor's office is investigating the allegation of breach of duty, since the then board of directors made or approved high-risk investments in the three-digit million range at the end of 2006.

In 2010 a profit of around 300 million euros was achieved according to HGB accounting; According to IFRS accounting, however, the bank was still in the red at around 340 million euros. In 2011, the group result before taxes showed a surplus of 117 million euros.

In 2012, the European Banking Authority declared that only those financial shares that are involved in possible losses are included in so-called Common Equity Tier 1 capital. She called on the owners of LBBW as well as the owners of other banks to convert their silent participations into liable equity.

Almost ten years after the financial crisis, the largest German Landesbank got the last legacy of the Sachsen Bank, which was taken over in 2008, from its books. LBBW has thus as good as closed the financial crisis. For this reason, the city of Stuttgart received 40 million euros more from LBBW's guarantee fund than expected and thus received a total of 165 million euros from the bank in December 2017.

literature

  • Bernd Weber: “LBBW has a lot of merger experience”. In: Börsenzeitung . August 14, 2007, ISSN  0343-7728 .

Web links

Commons : Landesbank Baden-Württemberg  - Collection of images, videos and audio files

swell

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ https://www.lbbw.de/konzern/news-and-services/finanzberichte/geschaeftsberichte/lbbw_geschaeftsbericht_2017_7u25z2rhr_m.pdf
  3. ↑ a b The 2019 Annual Report (PDF) on lbbw.de
  4. ↑ LBBW flexes its muscles. In: Börsen-Zeitung. March 2, 2018, accessed March 21, 2018 .
  5. ^ History of the BW Bank. bw-bank.de, archived from the original on May 5, 2010 ; Retrieved November 18, 2009 .
  6. ^ "Family Tree" of the operative members of the Association of German Pfandbrief Banks former names, mergers etc. (in German). (No longer available online.) Association of German Pfandbrief Banks (vdp), August 2007, pp. 21, 34, 41 , formerly in the original ; Retrieved November 17, 2009 .  ( Page no longer available , search in web archives ) (PDF) @1@ 2Template: Dead Link / www.pfandbrief.org
  7. ^ Landesgirokasse (LG), history. wabw.uni-hohenheim.de, May 25, 2009, accessed on November 18, 2009 .
  8. ↑ LBBW-Hilfen: EU requirements less strict ( memento from September 11, 2012 in the web archive archive.today ). Stuttgarter Zeitung online, November 17, 2009
  9. ↑ COMPROMISE ACHIEVED - LBBW gets off lightly at EU Handelsblatt of November 16, 2009
  10. ^ Edition of the EU Commission: LBBW is converted into a stock corporation spiegel.de, December 15, 2009. / State aid: Commission approves LBBW restructuring plan and relief for risk assets.
  11. ↑ Archived copy ( memento of April 26, 2014 in the Internet Archive ) LBBW Annual Report 2011, published April 20, 2012
  12. ↑ LBBW Annual Report 2013
  13. ↑ Sarah Backhaus: LBBW leaves HSBC. Retrieved June 5, 2020 .
  14. ↑ a b Landesbank Baden-Württemberg Investor Relations: Annual Report 2016. Landesbank Baden-Württemberg, December 31, 2016, pp. 56 and 135 , accessed on December 11, 2017 (German).
  15. ^ Dissolution: Landesbank Baden-Württemberg abolishes Sachsen Bank . In: Spiegel Online . January 19, 2018 ( spiegel.de [accessed March 21, 2018]).
  16. ↑ Authorized representatives of foreign banks and securities firms In: finma.ch , accessed on February 24, 2020 (PDF; 313 kB).
  17. ↑ LBBW - branches and locations. Retrieved March 21, 2018 .
  18. ↑ a b Annual Report 2007 (PDF; 1 MB)
  19. ↑ a b Annual Report 2011 ( Memento from January 6, 2014 in the Internet Archive ) (PDF; 2.3 MB)
  20. ↑ a b c Annual Report 2012 ( Memento of December 14, 2006 in the Internet Archive )
  21. ↑ a b Annual Report 2014 (PDF; 2 MB)
  22. ↑ LBBW Annual Report 2015 (PDF)
  23. ↑ LBBW achieves earnings before taxes of EUR 515 million in 2017. LBBW, March 1, 2018, accessed on March 21, 2018 .
  24. ↑ a b c d e f LBBW Annual Report 2009 (PDF; 69 kB)
  25. ↑ ( Page no longer available , search in web archives: Patrizia Immobilien press release from Feb. 14, 2012 )@1@ 2Template: Dead Link / www.patrizia.ag
  26. ^ Spiegel Online. November 21, 2008 - LBBW and HRE: Banks request cash benefits
  27. ↑ FAZ.net. November 21, 2008 - LBBW receives a five billion euro capital injection
  28. ↑ LBBW expects a loss of billions for 2009 as well
  29. ↑ boersennews.de. September 14, 2009 - LBBW must save up to 400 million
  30. ↑ Stuttgart Journal October 2, 2009 - 2,500 jobs will be cut
  31. ↑ a b Jörg Nauke: City should help with equity , Stuttgarter Zeitung , September 15, 2012, p. 21.
  32. ^ [1] Search at LBBW: Public Prosecutor's Office takes a look at top management, Spiegel online, December 7, 2009
  33. ↑ LBBW ended 2010 with a loss , Handelsblatt online, February 24, 2011, accessed on September 15, 2012
  34. ↑ Reuters Editorial: LBBW increases profit to 515 million euros . In: DE . ( reuters.com [accessed March 21, 2018]).
  35. ↑ Stuttgarter Zeitung, Stuttgart, Germany: Stuttgarter Etat: City collects 165 million from LBBW . In: stuttgarter-zeitung.de . ( stuttgarter-zeitung.de [accessed on March 21, 2018]).

Coordinates: 48 ° 47 ′ 9.5 ″  N , 9 ° 10 ′ 51.9 ″  E