KfW
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| Type | Federal Agency |
|---|---|
| Founded | 1948 |
| Headquarters | Frankfurt, Germany |
| Industry | Financial services |
| Products | Public sector banking, commercial banking, private banking |
| Revenue | €70.6 billion (2008)[1] |
| Employees | 4,228 (2008)[1] |
| Website | www.kfw.de |
KfW is a German government-owned development bank, based in Frankfurt. Its name originally comes from Kreditanstalt für Wiederaufbau, meaning Reconstruction Credit Institute, and it was formed after World War II as part of the Marshall Plan.
Recently KfW has tied up with the Industrial Development Bank of India (IDBI) to help Indian companies identify projects, fund the projects and help earn carbon credits. The tie-up would also help the companies find a suitable buyer in the international market.
On September 15, 2008, KfW transferred €300 million ($425 million) to Lehman Brothers Holdings on the same day that Lehman filed for bankruptcy, a step that earned the bank an unflattering moniker of "Germany's dumbest bank" in the media.[2]
[edit] See also
[edit] References
- ^ a b "Annual Results 2008" (PDF). KfW. http://www.kfw.de/DE_Home/Service/Download_Center/Finanzpublikationen/PDF_Dokumente_Berichte_etc./3_Finanzberichte/KfW_Financial_Report_2007_accessible_20080822.pdf. Retrieved on 2009-04-17.
- ^ DPA news agency (nda) (2008-09-20). "Germany's "Dumbest Bank" to Press Charges Against Own Staff". Deutsche Welle. http://www.dw-world.de/dw/article/0,2144,3659009,00.html. Retrieved on 2008-09-21.
[edit] External links
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