LfA Förderbank Bayern is the regional promotional bank ( German : Förderbank ) for the German state of Bavaria . It was established by law of 7 December 1950, initially as Landesanstalt für Aufbaufinanzierung (LfA), which makes it the oldest of the Förderbanken . It is headquartered in Munich .
6-399: LfA started operations on 1 May 1951. It provides financing for start-ups, environmental protection, and other areas deemed of public interest. It does not compete with commercial banks but co-lends or co-invests with them and provides guarantees. It also controls investment companies, namely BayBG Bayerische Beteiligungsgesellschaft mbH and Bayern Kapital GmbH . In July 2021, the latter
12-522: A few exceptions, Landesbanken and Sparkassen are chartered by national and state banking laws to pursue a public purpose ( German : öffentlicher Auftrag ). As of late 2022, they are: Four other German institutions are named Landesbank without playing the role of the above five within the public sector: The German name of the National Bank of Liechtenstein is Liechtensteinische Landesbank AG . This German bank or insurance-related article
18-540: Is a stub . You can help Misplaced Pages by expanding it . Landesbank In German-speaking jurisdictions, Landesbank (plural Landesbanken ), lit. ' bank of the Land ' , refers to a category of public sector banks that are owned by one or more of the Länder ( federated internally self-governing states ). Institutions of this type exist in most German states , as well as Austria and Switzerland . In
24-577: The Austro-Hungarian Empire under the rule of the Habsburg monarchy , Landesbanken were government-sponsored banks established in some of the kingdoms and lands of the crown: By contrast, Vienna's Länderbank (est. 1880) and its short-lived affiliate the Ungarische Landesbank (1881-1887) were private-sector initiatives. The name Landesbank also survives in regional entities of
30-671: The cooperative Raiffeisen Group in Austria and, similarly, the Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige in the Italian region of South Tyrol . The current Landesbanken are part of the Sparkassen-Finanzgruppe , one of the three pillars of Germany's banking system. Their business is predominantly wholesale banking, partly to serve local savings banks ( German : Sparkassen ). With
36-604: Was entrusted with the management of a €200 million scale-up fund at the initiative of the Bavarian state government. Together with other Förderbanken and the more commercially oriented Landesbanken , LfA Förderbank Bayern is a member of the Association of German Public Banks (VÖB). Since September 2023, it has been a member of the United Nations Global Compact . This bank and insurance -related article
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