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Development Bank of Saxony

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From Wikipedia, the free encyclopedia
Development Bank of Saxony
Founded1991
HeadquartersLeipzig,
Saxony
,
Germany
Key people
Hartmut Vorjohann (Chairman of supervisory board) and Katrin Leonhardt (Chairman of management board)
Total assets€8.2 Billion
Number of employees
1,131
Websitewww.sab.sachsen.de
SAB headquarters in Leipzig shortly after completion in 2021
SAB's former headquarters in Dresden, now one of the bank's registered addresses

The Development Bank of Saxony (known as SAB, an abbreviation of its German name Sächsische Aufbaubank), founded in 1991[1] is the state development finance institution for Saxony, Germany.

Activities

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The Development Bank of Saxony allocates subsidies from sources like the European Regional Development Fund in the form of grants, sureties and loans to various sectors such as housing, business, infrastructure, education, environment and agriculture.

In 2016, the bank made over 50,000 payments and grants totalling almost 1.4 billion euro and loans of over 450 million euro.[2]

Street view of Sächsische Aufbaubank's headquarters, shortly after completion in 2021

Location

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The headquarters of the Development Bank of Saxony have been in Leipzig since January 2017, the building itself was completed in 2021.[3][4][5] The bank's registered offices are in Leipzig and Dresden.

The bank also has customer centers in Leipzig, Dresden and Chemnitz and a regional office in Görlitz.[6]

History

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Between 1991 and 1995 L-Bank, Baden-Württemberg's state development finance institution, operated SAB. On December 19, 1995 SAB GmbH was created as an L-Bank subsidiary. SAB GmbH started operations on June 1, 1996. Since December 30, 2002, SAB has been a wholly-owned subsidiary of the state of Saxony.[7]

In 2003 its legal form was changed to an Institution under Public Law (Anstalt des öffentlichen Rechts in German).

See also

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References

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  1. ↑ "Über uns; Sächsische AufbauBank (SAB)".
  2. ↑ "SAB legt Geschäftsbericht 2016 vor". Archived from the original on 2017-10-20. Retrieved 2017-10-20.
  3. ↑ "Sächsische Aufbaubank startet spektakulären Neubau in diesem Jahr".
  4. ↑ "Droht dem Leipziger SAB-Neubau das selbe Schicksal wie dem BER?".
  5. ↑ "Kosten für SAB-Neubau in Leipzig steigen – Zastrow spricht von Steuergeldverschwendung".
  6. ↑ "Standortsuche | Sächsische AufbauBank (SAB)".
  7. ↑ "Seite oder Objekt nicht gefunden | Sächsische AufbauBank (SAB)".
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