Helaba

Helaba - Landesbank Hessen-Thüringen

Type	Institution incorporated under public law
Industry	Finance
Founded	June 1, 1953
Headquarters	Frankfurt and Erfurt, Germany
Key people	Herbert Hans Grüntker, CEO of Helaba
Total assets	€ 172 billion (2015)
Number of employees	6,150 (2015)
Website	www.helaba.com

Helaba short for Landesbank Hessen-Thüringen

Helaba, short for Landesbank Hessen-Thüringen, is a commercial bank with core regions in Hesse and Thuringia, Germany offering financial services to companies, banks, institutional investors and the public sector, both within Germany and internationally. At the same time, it is the central clearing institution and service provider for 40 percent of German savings banks. Helaba is an institution incorporated under public law. With approximately 6,300 employees and two headquarters in Frankfurt and Erfurt, the bank maintains branches in Düsseldorf and Kassel as well as offices in Berlin, Stuttgart, Munich and Muenster. On an international level, Helaba acts through branches and representative offices in Paris, London, New York, Madrid, Moscow, Shanghai, and Singapore. Frankfurter Sparkasse, the leading retail bank in the Rhine-Main region, is a wholly owned subsidiary of Helaba. The Helaba Group also comprises the online bank 1822direkt, LBS Hessen-Thüringen and WIBank. The latter implements development programmes of the State of Hesse. Further Helaba subsidiaries are Helaba Invest Kapitalanlagegesellschaft, Frankfurter Bankgesellschaft and the OFB Group (Real Estate Development).

The business field “Wholesale customer business” comprises financial services for enterprises, banks and institutional investors. In the business field of “private customers and small and medium-sized enterprise (SMEs)”, through its S-Group Bank, Helaba provides services for the S-Group savings banks in Hesse, Thuringia, North Rhine-Westphalia and Brandenburg. the framework of “public development and infrastructure business”, Helaba serves the development support programmes of the regional state of Hesse and participates in the development institutions and agencies in Hesse and Thuringia. Also GWH, one of Hesse’s biggest housing corporations, belongs to Helaba.

On June 1, 1953, Hessiche Landesbank Girozentrale arose from the merger of Hessische Landesbank Darmstadt Girozentrale (founded in 1940), Nassauische Landesbank Wiesbaden (founded in 1940) and Landeskreditkasse zu Kassel (founded in 1832). In the 1970s, a financial scandal brought Hessische Landesbank into serious difficulties. On July 1, 1992, a state treaty between Hesse and Thuringia on uniting the savings banks organizations of the two federal states brought about the creation of a joint Landesbank. As a result, it was the first Landesbank to operate outside a single federal state’s boundary. In the year 2005, Helaba acquired Frankfurter Sparkasse and thereby entered further into private customer business, which it had already conducted through its Darmstadt Branch and at its Kassel location through Landeskreditkasse zu Kassel.