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...IKB Deutsche Industriebank, WestLB and Sachsen LB were hit by the blow-up of the subprime mortgage market in 2007-2008....
...The CMA’s provisional findings follow a 2021 decision by the European Commission, which found seven banks — Bank of America, Natixis, Nomura, RBS (now NatWest), UBS, UniCredit and WestLB (now Portigon) —...
...Portigon, which was formally called WestLB, did not generate any net turnover in the most recent business year, so its €4.8m fine was reduced to zero....
...As a consequence, WestLB was broken up in 2012, while HSH Nordbank and NordLB were, or are being, rescued with the help of government money....
...Should no buyer materialise, HSH would share the fate of Düsseldorf-based WestLB, which the EU Commission forced Germany to wind down in 2012. Olaf Storbeck...
...In 2012, Brussels enforced the wind-down of scandal-prone WestLB....
...WestLB, Germany’s largest Landesbank, collapsed completely, while others, including BayernLB, HSH and LBBW, had to be bailed out by their owners, comprised mainly of regional states and savings banks....
...WestLB no longer exists and Landesbank Berlin has been largely absorbed into the savings bank sector....
...He was previously chief economist and head of research at Portigon/WestLB....
...Nevertheless, its only role so far stems directly from WestLB....
...One Landesbank, Düsseldorf’s WestLB, was forced to close down by EU competition authorities with some functions taken over by Helaba, a Frankfurt-based counterpart....
...While one, WestLB, closed in the financial crisis, others have generally resisted moves to merge. Low interest rates are also prompting many savers to invest in property in the hope of better returns....
...The variety should help the region overcome the loss of perhaps its most prominent locally-headquartered bank, WestLB....
...WestLB has been shut down while BayernLB only reached a restructuring deal in July....
...WestLB can still sell assets until June 30. Mizuho Financial of Japan last week said it would buy WestLB’s Brazilian unit....
...One Landesbank, WestLB, was forced from the market in the crisis but Moody’s says Germany remains “overbanked, fragmented and fiercely competitive”....
...TPG, the US private equity group, is looking to make its first investment in UK real estate by taking control of a prime City building occupied by WestLB, the German bank....
...Wells Fargo, the largest US bank by market capitalisation, has agreed to acquire a $6bn loan portfolio from WestLB, the troubled German bank....
...WestLB is almost gone....
...The company recently snapped up a $6bn loan portfolio from WestLB, the troubled German Landesbank, as well as the North American energy business of France’s BNP....
...Wells Fargo has agreed to buy a $6bn loan portfolio from WestLB, the German bank which is winding down assets....
...Maple and a group of prominent creditors that also includes Goldman Sachs, Germany’s WestLB, Brazilian banks BTG Pactual, Banco do Brasil and BNDES are owed $180m by Xinguleder, a company whose major plants...
...WestLB on Wednesday announced a partnership with Hewlett-Packard to develop services for Portigon....
...The mortgage lender said on Monday that it had reached a definitive agreement to acquire the subscription finance portfolio of Germany’s WestLB. Technology stocks lost momentum....
...Given the time national supervisors took to sort out WestLB or Anglo Irish Bank, a fast reaction team à la Swedish Bank Support Authority of the 1990s might be preferable....
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