Company bank (captive)

An institution wholly owned by a company in the manufacturing sector. Usually serves the sole purpose of providing all financing for the company. – See auto bank, corporate bank. – Cf. 2010 Annual Report of BaFin, p. 146 (Siemens Bank GmbH receives permission to conduct banking business), p. 152 f. (problems with Valovis Bank, part of the insolvent former Karstadt Group).

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