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BayernLB: Chapter 8

75) Focus 28.01.2010:
76) Focus 09.02.2010:

Public prosecutor's investigation continues

Currently the Bavarian state prosecutor has four previous Board members of the BayernLB under suspicion of embezzling bank equity by paying too much for the HGAA.
Searches were undertaken of the office of the head of the German Association of Cities and Towns (a CSU member i.e. Christian Socialist), and the offices of the BayernLB subsidiary Deutsche Kreditbank (DKB) in Berlin.
In an interview a one-time Board member said that he finds it unjust that only previous managers were being accused but not the politicians that sat in the Supervisory Council*. After all, the initiative to expand in other countries had come from the Supervisory Council.
*) The ministers Kurt Faltlhauser, Erwin Huber, Günther Beckstein and Christian Socialist politicians including the current head of the CSU fraction in the state government, Georg Schmid, among others.

77) Süddeutsche 31.03.2010:

Profit/loss statement for 2009 und job cuts

For 2009 the BayernLB had a loss of over €2.6 billion. Without the ill-fated adventure with the HGAA there would have been a profit of €700-800 million.
8000 jobs were cut after the "sale" of the HGAA in 2009.


The BayernLB is now focussing its activities once again on its traditionally state-internal operations: mid-sized businesses and private customers.

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