Westdeutsche Landesbank was a prominent exemplar of the German Landesbanken before collapsing in 2007-2012

In German-speaking jurisdictions, Landesbank (plural Landesbanken), lit. 'bank of the Land', generally refers to a bank operating within a territorial subdivision (Land) that has autonomy but not full sovereignty. It is occasionally translated as "provincial bank".

Austria-Hungary

In the Austro-Hungarian Empire under the rule of the Habsburg monarchy, Landesbanken were government-sponsored banks established in some of the kingdoms and lands of the crown:[1]

By contrast, Vienna's Länderbank (est. 1880) and its short-lived affiliate the Ungarische Landesbank (1881-1887) were private-sector initiatives. The name Landesbank also survives in regional entities of the Raiffeisen Group in Austria and, similarly, the Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige in the Italian region of South Tyrol.

Germany

Map of coverage of Landesbanks as of 2022

The current Landesbanken are part of the Sparkassen-Finanzgruppe, one of the three pillars of Germany's banking system. Their business is predominantly wholesale banking, partly to serve local savings banks (German: Sparkassen). With a few exceptions, Landesbanken and Sparkassen are chartered by national and state banking laws to pursue a public purpose (German: öffentlicher Auftrag).[3] As of late 2022, they are:

Four other German institutions are named Landesbank without playing the role of the above five within the public sector:

  • Landesbank Berlin (LBB) was converted into a joint-stock company (German: Aktiengesellschaft) in 2007, when the DSGV rescued it and took full ownership of its share capital; it is part of the Sparkassen-Finanzgruppe
  • Hohenzollerische Landesbank Kreissparkasse Sigmaringen is a local public savings bank, part of the Sparkassen-Finanzgruppe; its earliest predecessor was established in 1834 as Spar- und Leihkasse für das Fürstentum Hohenzollern-Sigmaringen, and was renamed Hohenzollerische Landesbank Spar- und Leihkasse in 1930
  • Kreissparkasse Birkenfeld, another local public savings bank within the Sparkassen-Finanzgruppe, is also occasionally referred to as Birkenfelder Landesbank because one of its predecessor entities was a local branch of Oldenburgische Landesbank, opened in Birkenfeld in 1914
  • Oldenburgische Landesbank (OLB, est. 1869) has always been a private-sector bank, controlled since 2017 by Apollo Global Management.[4]

Liechtenstein

Liechtensteinische Landesbank in Vaduz

The German name of the National Bank of Liechtenstein is Liechtensteinische Landesbank AG.

See also

References

  1. ↑ Ulrich Nachbaur (2008), "Die Hypothekenbank des Landes Vorarlberg 1897 bis 1925" (PDF), Montfort: 54
  2. ↑ Bo Larsson (November 2014). "Czernowitz – Cernăuţi – Černivci" (PDF). Edgar Hauster. p. 24.
  3. ↑ Richard Deeg (1999), Finance Capitalism Unveiled: Banks and the German Political Economy, University of Michigan Press, doi:10.3998/mpub.15451, ISBN 9780472109364, JSTOR 10.3998/mpub.15451
  4. ↑ Stephan Kahl (9 February 2022). "Apollo-Backed German Lender OLB in Talks to Hire IPO Arrangers". Bloomberg.
  • http://www.faz.net (Bilanzsummen minus 1.809.100.000.000 Euro) (Stand September 2010) (Schuldenbremse Grundgesetz)
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