243:, who had become WestLB's CEO at its creation in 1969, announced intent to resign, but was instead fired by the Supervisory Board for gross neglect. In 1978 he was charged with bribery, fraud, and malfeasance regarding a US$ 465,000 consulting fee he received from controversial financier Josef Schmidt. Poullain had allegedly not properly disclosed to the Supervisory Board items that included the terms of his consulting engagement, a loan he had simultaneously granted to Schmidt for the same sum, and Schmidt's legal issues at the time. He later claimed that the charges were politically motivated, and in 1981 was cleared of them all.
38:
268:, the head of the Rhineland Federation of Savings Banks, who had no professional banking experience. In mid-1982, WestLB raised DM1.12 billion in new capital, mostly from the North Rhine-Westphalia state government. By the mid-1980s, WestLB expanded its international operations, including through a 1986 arrangement to sell securities on the Tokyo exchange. In May 1988, together with other major German banks, it provided large-scale loans to the
588:
869:
31:
392:
In
November 2008, the board of WestLB announced that it intended to obtain state loan guarantees and look at raising additional capital from the government of Germany specially set up bailout fund. There are also any ideas to merge the WestLB with other state owned banks or to rearrange segments of
632:
1320:
388:
In
February 2008, as the global credit crisis evolved, WestLB was allocated a 5bn Euros guarantee by North Rhine Westphalia and a group of local banks. The bank was reported to have suffered from exposure to investments in structured credits.
430:
As per 30 June 2012, the brand WestLB was given up and the remaining company continued to operate under the name of
Portigon Financial Services AG. Besides, EAA and another organisation under the roof of Hessian and Thuringian Landesbank
231:
The new heavyweight soon had to face controversy, however. In 1973 it posted more than US$ 150 million in foreign-exchange losses, the result of unauthorized speculative trading by employees who were subsequently fired. In
December 1977,
84:, but it expanded into numerous risky activities that ultimately led to its restructuring and dismantlement in the late 2000s. As of 30 June 2012, the residual operations of WestLB were transferred to a legacy non-bank entity,
660:
756:
690:
857:
1606:
272:, and (through a Swiss subsidiary) purchased Moscow's first foreign bond issuance since the 1917 revolution. A renewed attempt to acquire Hessische Landesbank failed again in late 1988.
224:). In narrow terms, this ambition succeeded when WestLB became Germany's third-largest lending institution in 1976. That same year, it attempted but failed to take over the ailing
719:
850:
760:
646:
1341:
668:
423:
In
November 2009, 85 billion in problem assets were transferred from WestLB to a winding up agency called Erste Abwicklungsanstalt (EAA), colloquially also called '
698:
1616:
843:
835:
1611:
340:
Total assets of the group were €288.1 bn as of
December 31, 2008 (€292.1bn as of September 30, 2006) with operations spread over eleven countries in
1482:
918:
742:
1346:
408:
830:
165:
in 1877. The two provincial banks played a significant role in the dynamic industrial development of the
Rhineland and Westphalia until
1621:
1626:
888:
1452:
1399:
1265:
1151:
187:
1415:
610:
275:
In
January 2001 after WestLB had notified banking investigators about very large sums moving between offshore vehicles and
913:
908:
306:. On July 19, 2005, public guarantees provided by the local government, including the so-called institutional liability (
1405:
573:
246:
Profits again dropped by two-thirds in the fiscal year 1980, leading to calls for the departure of
Poullain's successor
102:
WestLB's origins go back to an unusual initiative of the
Swedish government, which in 1818 offered 160,000 taler to the
1098:
76:. It was created in 1969 by the merger of two predecessor entities respectively for the Rhineland and Westphalia. As a
1300:
826:
178:
97:
208:
The new merged bank was incorporated on January 1, 1969, with seat in Düsseldorf on the same location as the defunct
502:
212:. It ambitioned to challenge the domination of the German financial landscape by the "big three" commercial banks (
186:
The Landesbank der Rheinprovinz engaged in aggressive risk-taking during the 1920s and failed spectacularly in the
1275:
435:
are dealing with the aftermath of the quasi bankruptcy and carrying on with core functions of the former WestLB.
1083:
1457:
1270:
874:
117:
declared that sum the property of all Westphalia to be used for economic development and infrastructure. The
1202:
1001:
279:
accounts at WestLB, Düsseldorf prosecutors uncovered DM15 billion ($ 7 billion) had passed through WestLB,
37:
923:
549:
327:
106:
73:
523:
1373:
1073:
337:, under which WestLB and the other Landesbanks would concentrate on competitive commercial operations.
510:
1260:
554:
458:
332:
247:
1601:
497:
445:
233:
225:
785:
484:
471:
258:
1141:
1088:
804:
536:
323:
299:
1552:
1234:
1166:
944:
640:
295:
103:
1078:
949:
528:
1290:
1197:
1093:
893:
463:
276:
252:
1431:
1305:
1027:
898:
515:
1546:
1467:
1315:
1239:
1114:
489:
315:
307:
147:. This in turn inspired the creation of a similar institution in the neighboring Prussian
114:
110:
1557:
1487:
1462:
1410:
1126:
970:
450:
238:
148:
17:
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1513:
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361:
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217:
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69:
1310:
1042:
593:
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357:
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620:
822:
1579:
1563:
1351:
1280:
1131:
1068:
1063:
991:
280:
221:
166:
190:. Its operations were restructured and transferred in 1935 to the newly formed
1295:
1192:
1022:
583:
568:
369:
144:
140:
81:
77:
1568:
1518:
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1325:
1285:
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1161:
996:
730:
615:
411:
377:
353:
109:
as reparation for damages inflicted by Swedish and Dutch forces during the
1541:
1523:
1383:
1378:
1368:
1218:
954:
903:
743:"Umfassende Konsolidierungsstrategie: Sparkassen ordnen Landesbanken neu"
424:
401:
303:
80:, WestLB's core business was wholesale banking on behalf of the region's
30:
1574:
1497:
1146:
1032:
1006:
939:
158:
1447:
1244:
1156:
1047:
1037:
868:
823:
Documents and clippings about Landesbank für Westfalen - Girozentrale
432:
365:
341:
373:
322:) were abolished. These changes implemented an agreement with the
36:
29:
349:
839:
1171:
302:), and its promotional banking operations were transferred to
257:, who eventually resigned in July 1981. He was succeeded by
789:
360:, including significant investment banking operations in
808:
393:
the WestLB in the German system of state owned banks.
41:
WestLB head office in Düsseldorf, photographed in 2008
609:Уокер, Маркус (Walker, Markus) (26 September 2001).
1532:
1506:
1440:
1424:
1392:
1361:
1334:
1253:
1227:
1211:
1185:
1107:
1056:
1015:
984:
963:
932:
881:
416:
25.032% Sparkassen- und Giroverband Westfalen-Lippe
396:As of May 10, 2009, WestLB's shareholders were:
294:On August 30, 2002, WestLB was converted into an
143:in 1832, sometimes referred to as the first-ever
1607:Companies listed on the Frankfurt Stock Exchange
613:[Germany laundered Trans World Group].
851:
404:(also partly owned by North Rhine-Westphalia)
8:
645:: CS1 maint: multiple names: authors list (
134:Westphalian Provincial Bank and Support Fund
124:
72:, mainly controlled by the German state of
49:
858:
844:
836:
193:Rheinische Girozentrale und Provinzialbank
601:
638:
139:) was established for that purpose in
120:Westphalian Provinzialbank-Hülfskasse
7:
1617:1969 establishments in West Germany
919:Raiffeisenlandesbank Oberösterreich
611:"Германия отмыла Trans World Group"
68:) was a major German bank based in
1558:JPMorgan Chase Bank, London Branch
1347:Banque Internationale à Luxembourg
196:. In 1969, the latter merged with
25:
200:to form Westdeutsche Landesbank.
867:
586:
183:in 1890 and 1888 respectively.
172:Landesbank der Provinz Westfalen
154:Rheinische Provinzial-Hülfskasse
1266:Banca Monte dei Paschi di Siena
188:European banking crisis of 1931
1321:Raiffeisen Landesbank Südtirol
419:17.766% North Rhine-Westphalia
86:Portigon Financial Services AG
59:Western German Provincial Bank
1:
1612:Companies based in Düsseldorf
1162:SECB Swiss Euro Clearing Bank
914:Raiffeisen Bank International
909:Oesterreichische Nationalbank
889:Bank für Tirol und Vorarlberg
786:"English WestLB AG Home Page"
1152:Landesbank Baden-Württemberg
805:"German WestLB AG Home Page"
619:(in Russian). Archived from
574:German public banking sector
1301:Cassa di Risparmio di Fermo
1157:Landesbank Hessen-Thüringen
827:20th Century Press Archives
409:Sparkassen- und Giroverband
314:) and guarantor liability (
210:Landesbank der Rheinprovinz
179:Landesbank der Rheinprovinz
98:Landesbank der Rheinprovinz
1643:
95:
1622:Banks established in 1969
1458:Banco Cooperativo Español
1276:Banca Popolare di Sondrio
161:in 1854 and relocated in
27:Former German public bank
1627:Defunct banks of Germany
1271:Banca Popolare del Lazio
875:Euro Banking Association
326:known in Germany as the
204:Creation and development
198:Landesbank für Westfalen
1203:National Bank of Greece
46:Westdeutsche Landesbank
18:Westdeutsche Landesbank
1352:Gazprombank Luxembourg
1115:Bank of America Europe
924:UniCredit Bank Austria
319:
311:
107:province of Westphalia
74:North Rhine-Westphalia
42:
34:
1374:De Nederlandsche Bank
1074:BRED Banque Populaire
113:. Prussian statesman
40:
33:
1002:Sparekassen Sjælland
550:Dietrich Voigtländer
328:Brüsseler Konkordanz
226:Hessische Landesbank
169:. They were renamed
1142:Deutsche Bundesbank
1084:Crédit Mutuel Arkéa
757:"Aktionärsstruktur"
720:The Daily Telegraph
635:(kompromat.flb.ru).
524:Alexander Stuhlmann
348:, six countries in
344:, six countries in
324:European Commission
320:Gewährträgerhaftung
300:joint stock company
1235:Allied Irish Banks
1167:Standard Chartered
945:BNP Paribas Fortis
701:on 11 October 2007
671:on 11 October 2007
623:on 2 February 2013
296:Aktiengesellschaft
43:
35:
1589:
1588:
1198:Eurobank Ergasias
1094:La Banque postale
511:Thomas R. Fischer
277:Trans World Group
64:, abbreviated as
16:(Redirected from
1634:
1432:Bank of Slovenia
1416:Crédito Agrícola
1400:Banco BAI Europa
1306:Credito Emiliano
1261:Banca del Fucino
1099:Société Générale
899:Erste Group Bank
872:
871:
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853:
846:
837:
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817:
816:
807:. Archived from
800:
798:
797:
788:. Archived from
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771:
769:
768:
759:. Archived from
753:
747:
746:
739:
733:
731:de:WestLB#Fusion
728:
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706:
697:. Archived from
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667:. Archived from
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1388:
1357:
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1249:
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1079:Crédit Agricole
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1121:Bank of China
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1028:Bank of Åland
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976:Hellenic Bank
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828:
824:
821:
811:on 2006-02-21
810:
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792:on 1998-06-25
791:
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763:on 2008-06-02
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633:«Компромт.ру»
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537:Heinz Hilgert
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289:Deutsche Bank
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285:Dresdner Bank
282:
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254:
249:
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1064:BNP Paribas
1038:Nordea Bank
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950:bpost bank
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1569:MUFG Bank
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1473:Bankinter
1406:Banco BCP
1326:UniCredit
1286:Banco BPM
1177:Unicredit
695:westlb.de
665:westlb.de
641:cite news
627:24 August
616:Ведомости
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354:Australia
1542:Barclays
1524:Swedbank
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1425:Slovenia
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1379:ING Bank
1369:ABN AMRO
1291:BFF Bank
1219:OTP Bank
1033:DnB Bank
955:KBC Bank
904:Oberbank
894:BKS Bank
563:See also
425:bad bank
407:25.032%
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400:30.862%
384:Downfall
304:NRW.BANK
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