Bankgesellschaft Berlin
Encyclopedia
Landesbank Berlin Holding (formerly Bankgesellschaft Berlin) is a large commercial bank
based in Berlin
and holding company of the following banks: Berliner Sparkasse and Landesbank Berlin.
In 2007 LBB was taken over by the German Federation of Savings Banks (DSGV). The Land Berlin was forced to sell its stake by the European Commission
as a condition of permitting the bailout of the then Bankgesellschaft Berlin, which had got into difficulties due to a real-estate scandal.
In 2010 Landersbank reported pre-tax profits of €317m.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
based in Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
and holding company of the following banks: Berliner Sparkasse and Landesbank Berlin.
In 2007 LBB was taken over by the German Federation of Savings Banks (DSGV). The Land Berlin was forced to sell its stake by the European Commission
European Commission
The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
as a condition of permitting the bailout of the then Bankgesellschaft Berlin, which had got into difficulties due to a real-estate scandal.
In 2010 Landersbank reported pre-tax profits of €317m.