IKB Deutsche Industriebank
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| Public (: IKBG) | |
| Industry | Financial services |
| Founded | 1924 |
| Headquarters | Düsseldorf, Germany |
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Key people
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Dr. Michael H. Wiedmann (CEO and Chairman of the Management Board), Dr. Karl-Gerhard Eick (Chairman of the Supervisory Board) |
| Products | Corporate and Structured financing, Private Equity |
| Profit | €10.4 million (1 April 2015 to 31 March 2016) |
| Total assets | €19.6 billion (31 March 2016) |
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Number of employees
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1,543 (average 2015/2016) |
| Parent | Lone Star Funds |
| Website | www.ikb.de |
IKB Deutsche Industriebank AG (FWB: IKBG) is a bank headquartered in Düsseldorf, Germany. IKB supports medium-sized enterprises in Germany and Europe with loans, risk management, capital market services and advisory services. The online offering for retail banking customers covers overnight and term money, bank savings schemes, bank deposits and selected commercial papers. With total assets of €18.8 billion and about 1,500 employees the bank has a medium-size. The bank has ten branches in Germany and Europe as well as different subsidiaries. IKB is listed on Entry Standard (Frankfurt am Main) and primary market (Düsseldorf). Single shareholder is the investment company Lone Star.
IKB (Industriekreditbank) was granted its banking license in 1924 as "Bafio" (Bank für deutsche Industrieobligationen, Bank for German Industry Obligations). Bafio dealt in long-term real estate financing in an effort to aid the German economy grow under the weight of the World War I reparations the country owed.
The bank was incorporated under Germany's stock law (Aktiengesetz) in 1945. In 1974 it merged with Deutsche Industriebank to become IKB Deutsche Industriebank.
IKB's main area of business is financing for small and medium enterprises in Germany. In addition to corporate financing, they also undertake real estate financing.
The German government's financing bank, KfW (formerly Kreditanstalt für Wiederaufbau), owned a 38% stake in IKB. After several months of consideration of the sale of the IKB stake, it was announced on 21 August 2008 that private equity firm Lone Star Funds would acquire a 90.8% holding in the bank. The sale process of KfW's shares to Lone Star Funds was closed on 29 October 2008.
When the subprime market in the United States crashed in the summer of 2007, the global reach of the crisis was not immediately obvious. Several European banks, however, became victims of the crisis due to investment history; IKB was among the first European bank to declare financial trouble due to the subprime disaster.
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Wikipedia