Landesbank Baden-Wuerttemberg (LBBW) is considering the sale of
its leasing operations, according to press reports.
The German business daily Handelsblatt reported that
officials at the regional bank were reviewing the bank’s asset
portfolio as part of conditions connected to the financial aid
package provided by its owners and approved by the European
Union.
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“The focus on core business will mean deep cuts in shareholdings
and at subsidiaries,” it quotes one of its sources as saying.
Alongside the bank’s leasing and real estate operations, LBBW’s
20 percent stakes in Quirin Bank and HSBC Trinkaus & Burkhardt
could go up for sale.
Earlier this year, LBBW had to be bailed out by its owners with
a capital injection of over €5 billion and a further €12.7 billion
in guarantees.
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