The Thüringer Aufbaubank (TAB) is a German
development finance institution of the Free State of
Thuringia. It is a
public institution and was founded in 1992. The first chairman of the board was
Carl-Ludwig Wagner
Carl-Ludwig Wagner (9 January 1930 – 27 July 2012) was a German politician of the Christian Democratic Union.
Wagner was born in Düsseldorf, but later lived in Eitelsbach, a part of Trier. After his Abitur 1949 in Trier he studied law at ...
. The sole shareholder is the Free State. It has assumed the guarantor liability and the maintenance liability. Legal supervision of the bank lies with the Thuringian Ministry of Finance.
Tasks and instruments
The tasks of the bank include, in addition to
economic development, the promotion of housing and urban development, the promotion of technology, the financing of public customers, agriculture,
environmental protection and
infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...
. The Aufbaubank offers
low-interest loans and subsidies. In addition, it issues
guarantees. Its
subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...
''bm-t beteiligungsmanagement thüringen gmbh'' also allows Thuringian companies to obtain
equity
Equity may refer to:
Finance, accounting and ownership
* Equity (finance), ownership of assets that have liabilities attached to them
** Stock, equity based on original contributions of cash or other value to a business
** Home equity, the dif ...
capital. The bank's target groups are companies, homeowners, municipalities, municipal companies and farmers. The Aufbaubank works closely with banks and
savings banks as well as with the other
development banks of the federal and state governments.
Refinancing of the bank
The lending business of the development bank is fully refinanced on the
money and
capital market
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...
s. To this end, the bank issues bonds or resorts to funds from financing agreements. The bank is legally limited. For example, it may not enter into
currency risks and has to conclude its business exclusively in
Euros. The Aufbaubank enjoys the highest solvency rating
(Solva zero).
Significant investments
* ''bm-t Beteiligungsmanagement Thüringen gmbh''
* ''Mittelständische Beteiligungsgesellschaft Thüringen mbH''
* ''Bürgschaftsbank Thüringen''
* ''Gesellschaft für Arbeits- und Wirtschaftsförderung des Freistaates Thüringen mbH (GfAW)''
See also
*
German public banking sector
The German public banking sector (german: Öffentliches Kreditwesen) represents a significant share of the broader banking sector in Germany. Unlike in most other Western and Central European countries, German public-sector banks have been presen ...
References
External links
Official Website
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Companies based in Thuringia
1992 establishments in Germany
Banks established in 1992
Sub-national development banks
Government-owned banks of Germany