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Created before Nov 2016
Last update: 2016-09-09 13:04:08
Johan Frijns, BankTrack
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The Bayerische Landesbank is a German publicly regulated bank, founded in 1972. It is one of the eight Landesbanken. As a commercial bank, BayernLB offers private and commercial customers a universal range of services in private, industrial, investment and foreign business. As a state and municipal bank, BayernLB is responsible for comprehensive credit and financial counsel for the state of Bavaria and its municipalities and districts. Through its subsidiaries, the bank is involved in a variety of further business areas. The Bayerische Landesbodenkreditanstalt is an organ of state housing policy, while the LBS Bayern is a public building society (Bausparkasse). Through its full ownership of the Deutsche Kreditbank, based in Berlin, BayernLB is also involved in retail banking.
Brienner Straße 18
Dr Johannes-Jörg Riegler |
|Annual report||Sustainability Report 2014|
The Bank's legal form is that of a "corporation established under public law".Shareholders are the Free State of Bavaria and the Association of the Bavarian Savings Banks (SVB).
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Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO
Voluntary initiativesBayernLB has committed itself to the following voluntary standards:
BayernLB announces wish to exit Dakota pipeline project
According to campaigner Andrea Marcos, “As a result of public pressure, Bavarian owned public bank Bayern LB will divest $120 million from the Dakota Access Pipeline. The Landesbank met in a private financial meeting on Thursday and announced that they will divest. They are currently in the process of making an exit plan. The larger context is that the bank is in process with the government, being a gov-owned bank, and the gov called them to a meeting to discuss the investment in DAPL, and they collectively have decided to divest.” Read more
Six banks step away from Dakota Access Pipeline (DAPL) and backers
In February ABN AMRO, ING, BayernLB and Nordea all announced they would step away from financing either the project or its backers. ABN AMRO committed to end its financing for Energy Transfer Equity (ETE) if the pipeline proceeds without consent from the Standing Rock Sioux or with further violence. Nordea excluded three companies behind the Dakota Access Pipeline from investment. BayernLB stated it will withdraw from financing DAPL at the earliest opportunity, and not provide further finance. In March, ING became the first bank to sell its portion of a project loan supporting the pipeline. This was followed by DNB and by BNP Paribas selling on their shares of the loan. The buyers are unknown.