Home News Savings for companies to put equity fund – Press

Savings for companies to put equity fund – Press

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BERLIN (Dow Jones) – The German Savings Banks and Giro Association (DSGV) is planning the launch of an own equity fund Companies. "We’re currently working to funds from savings banks together to help larger companies, whose use the Force would overwhelm a single bank, " said DSGV President Heinrich Haasis the Berlin "Tagesspiegel" (Monday edition). The fund will come in the spring.
At the head of Deutsche Bank, Josef Ackermann, Fund announced, in which to involve other institutions, said Haasis: "It is good if the German bank also what makes". The Savings banks have in the past year about 300 million euros in new Equity funding allocated and would forego a day 300 million euro in new loans.
Haasis also said he was "but for the Equity efforts even further to the area. "Many companies in the crisis year 2009 would have consumed equity. "The need Now erstmal equity in order to borrow it at all. We therefore recommend that the savings banks, equity financing on award, "said Haasis.
The proposal of the association of private banks, the Reforming deposit insurance fund and to include the savings banks with leaning DSGV off. Haasis said the savings guaranteed as the Credit unions, the existence of each individual institution on its own. Customers would never have to suffer a loss, and the state have never stand in need. "If a bank such as Lehman Brothers’ German pleitegeht, why should the German savings banks to pay for it, " he asked.
DJG / apo
END) Dow Jones Newswires
January 24, 2010 09:15 ET (14:15 GMT)
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