The Südwestbank AG (stylized as SÜDWESTBANK) is a

regional bank A regional bank is a depository institution, i.e. a bank, savings and loan, or credit union, which is larger than a community bank, which operates below the state level, but smaller than a national bank, which operates either nationally or intern ...

in the southwest of

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 ...

which is located in Stuttgart. The bank operates in the form of a stock corporation and looks after about 100,000 private and corporate customers in

Baden-Württemberg Baden-Württemberg (; ), commonly shortened to BW or BaWü, is a German state () in Southwest Germany, east of the Rhine, which forms the southern part of Germany's western border with France. With more than 11.07 million inhabitants across a ...

History

The Südwestbank was originally founded in 1922 as ''Württembergische Landwirtschaftsbank GmbH'' in Stuttgart. In 1954 it was continued as ''Südwestdeutsche Landwirtschaftsbank GmbH''. From the year 1964, it traded as ''Südwestbank GmbH''. By changing the legal form in 1970 it became the Südwestbank AG. Organizationally, the bank was connected to the ''

Bundesverband der Deutschen Volksbanken und Raiffeisenbanken The National Association of German Cooperative Banks (german: Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, BVR) is the umbrella association for the German Cooperative Financial Group. Its origins go back to 1864 as . As of 2015 ...

'' (BVR). The main owner was the

DZ Bank DZ Bank AG () is the second largest bank in Germany by asset size and the central institution for around 800 cooperative banks and their around 8,500 branch offices. Within the German Cooperative Financial Group, which is one of Germany's la ...

. In 2004, ''Santo Holding GmbH'' of Andreas and Thomas Strüngmann bought DZ Bank's stake of 89.6%. As a result, the Südwestbank left the union of cooperative banks and joined the ''

Bundesverband deutscher Banken The Association of German Banks (german: Bundesverband deutscher Banken) is the association of private banks in Germany and a key lobby group for Germany's financial sector. In the traditional 3-pillar system of the German banking industry, this r ...

'' and its deposit insurance fund on 1 January 2005. In spring 2008, its CEO was dismissed and the business strategy was redirected toward wealthy private customers. At the beginning of 2010, ''Santo Holding GmbH'' sold its 94% stake to ''Santo Vermögensbeteiligung GmbH''. The equity capital of Südwestbank more than doubled at the end of 2013 as a result of an equity contribution of

€ The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists ...

386 million. On 25 August 2016, Südwestbank received permission from the '' Bundesanstalt für Finanzdienstleistungsaufsicht'' to issue debenture bonds. From now on, the independent

private bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

was also a Debenture bond bank and one of the only four percent of German banks that are Debenture bond banks. In 2017, the

Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...

n bank BAWAG P.S.K. took over the Südwestbank from the previous owners Andreas and Thomas Strüngmann. The Südwestbank is set to serve as a platform to Germany to further expand Bawag P.S.K.

Subsidiaries

Südwestbank AG is the owner of ''SWB Treuhand GmbH'' and ''Vertiva Family Office GmbH''. ''Vertiva'' is dedicated to the management of private and corporate assets in

German-speaking German ( ) is a West Germanic language mainly spoken in Central Europe. It is the most widely spoken and official or co-official language in Germany, Austria, Switzerland, Liechtenstein, and the Italian province of South Tyrol. It is also a ...

countries. At the beginning of 2015, Südwestbank founded another subsidiary, ''SWB Immowert GmbH'', which specialized in the acquisition of real estate as a stable investment.

Product partners

The Südwestbank works with a variety of product partners, including: '' Allianz'', ''Allianz Global Investors'', ''Bausparkasse Schwäbisch Hall'', ''Dr. Ing. Ellwanger & Kramm'', ''equinet'', ''Flossbach von Storch'', ''

GEFA Bank The GEFA Bank GmbH is a company for manufacturer independent sales and investment funding for mobile economic goods. The company, which was founded in 1949 as subsidiary of the Deutsche Bank, employs in its Wuppertal branch at the Robert-Daum- ...

'', ''Kloepfel Consulting'', ''MIBAV Consulting'', ''Münchener Hypothekenbank'', ''R + V Versicherung'', ''Spitzmüller'', ''Süddeutsche Krankenversicherung'', ''Targo Commercial Finance'', ''

Union Investment Union Investment (; formal name Union Asset Management Holding AG) is the investment arm of the DZ Bank Group and part of the cooperative financial services network. It was founded in 1956 and is headquartered in Frankfurt. Trading in open-en ...

'', ''UVW Leasing'', ''WL Bank'', ''Württembergische Lebensversicherung''. Since 1 April 2004, the Südwestbank has been a member of the CashPool with over 3,000 ATMs in Germany.

Technology

The Südwestbank AG is affiliated to the cooperative data center of Fiducia & GAD IT AG and uses its software agree as its

core banking Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices. Core banking is often associated with retail ba ...

system.

References

External links

www.suedwestbank.de Official Website
{{Authority control Banks of Germany Cooperative banks of Germany Corporate finance Companies based in Stuttgart Banks established in 1922 German companies established in 1922