Description

The Münchner Bank is a German credit union headquartered in Munich.It was founded in 1862 and is the eldest and biggest credit union in Bavaria. It has 624 employees at 42 locations in the Munich area and total assets of 2.625 Billion Euros (c. 3700 Million US-Dollar). It functions as a credit union bank and provides financial services to small-scale businesses and retail banking customers. In September 2013 the bank canceled the accounts of the islamcritic German Freedom Party out of political persecutions. The German politician of the Alternative for Germany Christian Rehm was an outspoken critic of that decision.

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BayernLB or Bayerische Landesbank is a publicly regulated bank based in Munich, Germany and one of the eight Landesbanken. It is 94% owned by the free state of Bavaria and 6% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen. With a balance of €416 billion and 19,200 employees, it is the eighth-largest financial institution in Germany.Main business activitiesAs a commercial bank, BayernLB offers private and commercial customers a universal range of services in private, industrial, investment and foreign business. This includes loans, securities trading and asset management, as well as mid-term and long-term bond issuance and securitization. The bank is refinanced through a variety of commercial debenture instruments.As a state and municipal bank, BayernLB is responsible for comprehensive credit and financial counsel for the state of Bavaria and its municipalities and districts.Through its subsidiaries, the bank is involved in a variety of further business areas. The Bayerische Landesbodenkreditanstalt is an organ of state housing policy, while the LBS Bayern is a public building society (Bausparkasse). Through its full ownership of the Deutsche Kreditbank, based in Berlin, BayernLB is also involved in retail banking.