Helaba short for Hessische Landesbank (also: Landesbank Hessen-Thüringen)
| Type | Institution incorporated under public law |
|---|---|
| Industry | Finance and insurance |
| Founded | June 1, 1953 |
| Headquarters | Frankfurt am Main and Erfurt, Germany |
| Key people | Hans-Dieter Brenner, CEO of Helaba |
| Total assets | € 157.724 billion (at mid-year 2011) |
| Employees | 6,000 (2011) |
| Website | [1] |
Landesbank Hessen-Thüringen (Helaba) is a commercial bank with core regions in Hesse and Thuringia, Germany. It is the group bank for savings banks, Landesbank and public sector banks located in the two federal states and their municipalities, as well as a commercial bank with orientation to wholesale customer business. Helaba is an institution incorporated under public law. With approximately 6,000 employees, the Helaba Group is one of the larger German Landesbanks. Its two head offices are in Frankfurt am Main and Erfurt. The bank has branches in Kassel (Landeskreditkasse zu Kassel), New York, London, Paris and Dublin and is also present with representative offices in Madrid, Moscow and Shanghai. Belonging to the Helaba Group are the subsidiaries, Helaba Invest Kapitalanlagegesellschaft, Frankfurter Bankgesellschaft and the OFB Group, which is active in real estate project development.
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The business field “Wholesale customer business” comprises financial services for enterprises, banks and institutional investors. In the business field of “private customers and small and medium-sized enterprise (SMEs)”, through its S-Group Bank, Helaba provides services for the S-Group savings banks in Hesse and Thuringia. Since the acquisition of Frankfurter Sparkasse, the Helaba Group is the regional market leader in retail banking. At the same time, with 1822direkt, it has an online bank. In the framework of “public development and infrastructure business”, Helaba serves the development support programmes of the regional state of Hesse and participates in the development institutions and agencies in Hesse and Thuringia. With GWH, one of Hesse’s biggest housing corporations also belongs to the Helaba Group.
On June 1, 1953, Hessiche Landesbank Girozentrale arose from the merger of Hessische Landesbank Darmstadt Girozentrale (founded in 1940), Nassauische Landesbank Wiesbaden (founded in 1940) and Landeskreditkasse zu Kassel (founded in 1832). In the 1970s, a financial scandal brought Hessische Landesbank into serious difficulties. On July 1, 1992, a state treaty between Hesse and Thuringia on uniting the savings banks organizations of the two federal states brought about the creation of a joint Landesbank. As a result, it was the first Landesbank to operate outside a single federal state’s boundary. In the year 2005, Helaba acquired Frankfurter Sparkasse and thereby entered further into private customer business, which it had already conducted through its Darmstadt Branch and at its Kassel location through Landeskreditkasse zu Kassel.
Helaba has legal capacity as an institution incorporated under public law. Owners and guarantors of Landesbank Hessen-Thüringen are the Sparkassen- und Giroverband Hessen-Thüringen (85 %) (Savings Banks and Giro Association of Hesse-Thuringia), the Federal State of Hesse (10 %) and the Free State of Thuringia (5 %). The governing bodies of the bank are the Owners’ Assembly, the Supervisory Board and the Board of Managing Directors. CEO of Landesbank Hessen-Thüringen is Hans-Dieter Brenner.
The foundation stone of the Maintower was laid in October 1996. Three years later, the bank moved into the building. With a height of 200 metres, it is the fourth-highest skyscraper in Frankfurt. Earlier, the bank was headquartered in the adjacent building, now called Garden Towers.
In July 2011 it was reported that Helaba would pull out of the EU's bank stress tests to avoid public failure. [1]
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