WestLB AG in Brief
- Commercial Bank with Firm Roots in North Rhine-Westphalia -
WestLB AG is a commercial bank domiciled in North Rhine-Westphalia, Germany´s most densely populated federal state. With total assets of € 191.5 billion as at December 31, 2010, it is one of Germany´s leading providers of financial services. As the central institution for the savings banks it is the competence centre and link to the financial markets for the savings banks in North Rhine-Westphalia and Brandenburg. Working in close partnership with the savings banks, WestLB´s range of products and services includes lending, structured finance, capital markets business, asset management, transaction services and real estate financing. WestLB employs a total of 4,473 full-time staff (as of December 31, 2010).
Strong Financial Partner in a Strong Alliance
As financial partner to corporate, institutional and public-sector clients, WestLB offers a portfolio of products and services tailored specifically to their requirements.
As a member of the Sparkassen-Finanzgruppe, WestLB cooperates closely with its alliance partners. It provides the regionally operating savings banks with attractive products and services as well as efficient execution. As an acknowledged player in the financial markets, WestLB secures the necessary capital market expertise for the savings banks and their clients.
WestLB seeks to support its clients with highly efficient financial solutions, thereby ensuring the long-term success of the company for shareholders and employees alike. In accordance with the principles of the Corporate Governance Code, the Bank behaves in a responsible and transparent manner towards clients, shareholders, employees and the general public. WestLB AG is aware of its social responsibility and its actions are guided by the objectives of sustainable development.
Firmly Rooted in the Home Region
WestLB was created in 1969 by the merger of its old-established predecessor institutions, Landesbank für Westfalen Girozentrale, Münster, founded in 1832, and Rheinische Girozentrale und Provinzialbank, Düsseldorf, founded in 1854. On August 30, 2002, WestLB was transformed into a joint stock company after the public mission activities were integrated into Landesbank NRW (now NRW.BANK), which was established on August 1, 2002.
Shareholder structure of WestLB AG: The two savings banks associations of North Rhine-Westphalia, the Savings Banks and Giro Association of the Rhineland (RSGV) and the Savings Banks Association of Westphalia-Lippe (SVWL), each hold over 25% of the shares, the State of North Rhine-Westphalia holds 17.76%, NRW.BANK 30.86%. The owners of NRW.BANK are the State of North Rhine-Westphalia (98.6%) and the two regional associations of the Rhineland and Westphalia-Lippe (0.7% each).