The Thüringer Aufbaubank (TAB) is a German
development finance institution
Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
DFIs are often established and owned by governments or ...
of the Free State of
Thuringia
Thuringia (; officially the Free State of Thuringia, ) is one of Germany, Germany's 16 States of Germany, states. With 2.1 million people, it is 12th-largest by population, and with 16,171 square kilometers, it is 11th-largest in area.
Er ...
. It is a
public institution and was founded in 1992. The first chairman of the board was
Carl-Ludwig Wagner. 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
In economics, economic development (or economic and social development) is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and object ...
, the promotion of housing and urban development, the promotion of technology, the financing of public customers, agriculture,
environmental protection
Environmental protection, or environment protection, refers to the taking of measures to protecting the natural environment, prevent pollution and maintain ecological balance. Action may be taken by individuals, advocacy groups and governments. ...
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 pri ...
. The Aufbaubank offers
low-interest loans and subsidies. In addition, it issues
guarantee
A guarantee is a form of transaction in which one person, to obtain some trust, confidence or credit for another, agrees to be answerable for them. It may also designate a treaty through which claims, rights or possessions are secured. It is to ...
s. Its
subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...
''bm-t beteiligungsmanagement thüringen gmbh'' also allows Thuringian companies to obtain
equity capital. The bank's target groups are companies, homeowners, municipalities, municipal companies and farmers. The Aufbaubank works closely with banks and
savings bank
A savings bank is a financial institution that is not run on a profit-maximizing basis, and whose original or primary purpose is collecting deposits on savings accounts that are invested on a low-risk basis and receive interest. Savings banks ha ...
s 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
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: m ...
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 ...
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
Euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...
s. 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 () 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 present since the early phases of formal ...
References
External links
Official Website
{{coord, 50.971762, 11.018123, region:DE-TH_type:landmark, display=title
Companies based in Thuringia
1992 establishments in Germany
Banks established in 1992
Sub-national development banks
Government-owned banks of Germany