The President of the German Savings Banks and Giro Association (DSGV), Heinrich Haasis, the SME Fund announced in early February on a Handelsblatt conference. Source: Reuters
FRANKFURT. According to information from financial circles in the money pot is to have a volume of 550 million euros and thus the range of already known Deutsche Bank . surpass The distance between the public service group and the largest private bank in Germany "would be much," it said in the circles. Should the demand exceed the planned 550 million euro is a margin in "hundreds of millions" possible, "said an insider.
The German Bank In early February had given the go-ahead for its middle class has long promised funds. Germany boss Jurgen Fitschen had said at the presentation in Frankfurt, the private SME Fund was initially equipped with 300 million euros. With the offer of Deutsche Bank SMEs will receive from the fund equity in the form of profit participation rights. These are "mezzanine capital", which stands between the equity and debt. The supply of savings are for real against equity. I understand that this will be the forces of some 60 regional subsidiaries of the S-Finance Group in association bundle.
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Applications should take the local account manager in the branches of savings banks, as they were with the situation of the company most familiar with, "said a bank manager. In parallel, it will give performances in the Internet first information on the SME Fund. The transit of already existing offers of the country’s funding agencies or the KfW remained unaffected. There is something to come without deleting anything, they said.
The savings banks solve a medium-sized businesses with their funds and a commitment to Chancellor Angela Merkel. "In early December we had the conversation with the Chancellor. A number of financial institutions, including savings banks, there are pledges for a specific commitment made in corporate finance," Heinrich Haasis, president of the German Savings Banks and Giro Association (DSGV) had already In early February on a Handelsblatt conference in Berlin announced. In addition to preventing a credit crunch on the upswing, the capital base of the middle class is regarded as the problem child. The capital cushions are worn thin because of the economic crisis for many companies.