Landesbank Berlin Holding (formerly ''Bankgesellschaft Berlin''; ) is a large

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

based in

Berlin Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

. It is the

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

of the Berliner Sparkasse and

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

. In 2007, LBB was taken over by the

Deutscher Sparkassen- und Giroverband The Deutscher Sparkassen- und Giroverband (DSGV, ) is the association of German savings banks (german: Sparkassen) and the apex entity of the Sparkassen-Finanzgruppe, the European Union's second-largest financial services group (after BNP Paribas ...

(DSGV). Berlin was forced to sell its stake by the

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...

as a condition of permitting the

bailout A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term ''bail-in'' (coined in 2010) under which the bondholders or depositors of global sys ...

of the then Bankgesellschaft Berlin, which had gotten into difficulties due to a real-estate scandal. In 2010, a

net profit In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, ...

of EUR 317 million was reported.

References

External links

Official website
Landesbanks Companies based in Berlin Companies formerly in the MDAX German companies established in 2005 Banks established in 2005 {{Germany-bank-stub