Landesbank Saar
From Wikipedia, the free encyclopedia
Landesbank Saar (short SaarLB) is a public-law corporation established in Saarbrücken and the largest credit and mortgage bond institute in Saarland. In 2017, the balance sheet total was around €14 billion. Core markets are Saarland and France, especially the northeast of the country.[2]
Pfälzische Wirtschaftsbank gAG
| |
| Type | Public institution |
|---|---|
| Industry | financial service activities, except insurance and pension funding |
| Predecessor | Hypothekenbank Saarbrücken Pfälzische Wirtschaftsbank gAG |
| Founded | 1941[1] |
| Headquarters | Saarbrücken, Germany[2] |
| 10,685,548.04 (2017) | |
| Total assets | €14.9 billion (2018)[3] |
Number of employees | 531 (2018)[2] |
| Website | www |
Until December 31, 2013, shareholders of SaarLB were Bayerische Landesbank (BayernLB, 49.9%), Saarland (35.2%) and Sparkassenverband Saar (14.9%), after Bayerische Landesbank, during the 2008 financial crisis, sold a share of 25.2% for 65 million euros to Saarland.[4] This share ratio changed as of September 30, 2013, as Saarland Sparkassen converted previously held silent participations into so-called "hard core capital". At this date the participation rates amounted to 43.92 percent for BayernLB, 30.98 percent for Saarland and 25.1 percent for Sparkassenverband Saar.[5]
As of 1 January 2014, BayernLB sold its remaining shares to Saarland, so that now Saarland is involved with 74.9 percent and Sparkassenverband with 25.1 percent in SaarLB.[6]
