Westfalenbank
Coordinates: 51 ° 28 '46.9 " N , 7 ° 13' 4.2" E
| Westfalenbank AG
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| legal form | Corporation |
| founding | 1921 |
| resolution | 2010 |
| Seat | Bochum , Germany |
| Number of employees | 250 (2005) |
| Branch | Bank |
| Website | www.westfalenbank.de |
The Westfalen Bank AG ( BLZ 430 200 00) was a bank based in Bochum , the 1921 industrial enterprises mining corporation "Lorraine" , Essen's coal mines AG & Maschinenfabrik Henschel & Son Ltd. as Group Bank was founded, not by the Berlin banks dependent to become. In order to avoid a legally complicated and costly start-up, the Henschel-Lothringen-Steinkohlen-Vereinigung interest group acquired the Harzer Bank AG in Osterode , founded in 1903, from Commerz- und Privatbank AG , relocated its headquarters to Bochum and changed the company .
Westfalenbank experienced a heyday in the 1950s, when it was the house bank of a number of companies in the Ruhr area. Westfalenbank also ran into difficulties during the advancing coal crisis of the 1960s. When the chemical company BASF took over Wintershall AG in the 1970s , BASF also became the Westfalenbank majority shareholder and, due to a lack of interest, sold the bank shares to Bayrische Hypotheken- und Wechselbank AG , which in turn later became part of HypoVereinsbank .
In 1992, the board member Dieter Pöhlmann was dismissed because he had approved the real estate speculators Naftoli Gelerman , Hary Broch and Menachem Grünbaum overly generous loans. After falling property prices, they had to file for bankruptcy and thus inflicted significant financial damage on Westfalenbank.
Since several large customers of the Westfalenbank got into difficulties, it was sold to the Düsseldorfer Falke-Bank AG in 2002 . Since the Falke-Bank was on the verge of ruin, the HypoVereinsbank bought the Westfalenbank back on May 24, 2004.
In the years that followed, HypoVereinsbank filled the individual divisions of Westfalenbank: Asset management was taken over by the financial group Fortis , private customer business went to Bank Merck Finck & Co a little later , and corporate customer business with a loan volume of around one billion euros remained with HypoVereinsbank . Westfalenbank AG, including the remaining business, was sold in 2006 to the US Crown Group, which renamed the bank to Crown Westfalen Bank AG . On December 31, 2010, the bank's business operations were finally ceased. Since then, Crown Westfalen Bank AG has been in liquidation .
The Westfalenbank building on Huestraße was bought in 2008 by a real estate company in Bochum and converted into a media center, which today houses the WAZ editorial office in Bochum and the local radio station 98.5 Radio Bochum .
swell
- Handbook of German stock corporations , 30th edition 1925, Volume 2, p. 2521.
- Handbook of German Stock Companies , 48th edition 1943, Volume 1, p. 396 f.
- Caspar Dohmen: decline of the Westfalenbank. Funeral in installments. In: Handelsblatt from January 23, 2006 ( online at handelsblatt.com , last accessed on February 1, 2018)
Web links
- Early documents and newspaper articles on the Westfalenbank in the 20th century press kit of the ZBW - Leibniz Information Center for Economics .
Individual evidence
- ↑ Focus finding the truth in court on October 3, 1993
- ↑ Ad hoc announcement from HypoVereinsbank in Wirtschaftswoche
- ↑ Information on http://www.westfalenbank.de/ , accessed on June 26, 2013
- ^ WAZ Bochum Medienhaus in Kortum-Karree on April 16, 2008