KfW

KfW aquires 33,2% Stake in IKB
Strategic Alliance for long-term SME Financing

Frankfurt am Main (ots) - Kreditanstalt für Wiederaufbau (KfW) will purchase the shares in IKB Deutsche Industriebank AG held by Allianz AG and by the Münchener Rück Group of 19.8% and 13.4%, respectively. In so doing, Germany's leading promotional bank is carrying on with its commitment to securing access to long-term financing for small and medium-sized enterprises. "Traditionally both KfW and IKB have always been committed to the SME sector in Germany", said Chairman of KfW's Board of Managing Directors Hans W. Reich on Monday in Frankfurt. "Together we are now creating new perspectives for corporate financing in Germany." In view of the profound change in the international and national banking sector, in the past twelve months KfW has already initiated important steps to secure funds for SMEs: both publicly and in discussions with banks and politicians the bank is pushing for a new Basel Capital Accord (Basel II) that will favour small and medium-sized enterprises. Additionally, KfW's innovative securitization programmes offer the commercial banks relief by reducing the amount of equity they need to back their lendings, creating room for new SME loans. The promotional bank has also expanded its range of financial offers by adding global loans. "The stake in IKB is directly in line with this strategy", emphasized Reich. "By acquiring 33.2% of the IKB shares, we are adding an essential building block to our commitment to ensuring SME financing in the long term. In this way we can ensure not only the financing products and the overall conditions but also the distribution channel for long-term financing, which is vital to the existence of SMEs in Germany." The stake in IKB gives KfW the chance to expand the current cooperation between the two banks into a strategic alliance for the SME sector - for instance in the areas of company succession, equity / fund financing or for the joint syndication of project finance. A further goal is to successfully deepen the cooperation between KfW and IKB as regards the securitization of SME credit risks. Their cooperation in this field began with the very first transaction in November 2001. The alliance with IKB will be competitively neutral, meaning that all transactions will be carried out at arm's length. As has been the case in the past, IKB will continue to receive the same refinancing conditions as all other banks in KfW's promotional lending business. The on-lending principle practiced by KfW will not change. The business policy orientation of IKB will be maintained. What will change for both institutions is the possibility to cooperate more closely in many business areas. Since its foundation in 1949 IKB has been a key source of impulses and an important sales partner for KfW's promotional products. The industrial bank, whose head office is in Düsseldorf, has a total of twelve office bases in Germany and abroad. It is a partner for established SMEs and young innovative companies as well as for commercial real estate investors. IKB's balance sheet total as of March 31, 2001 was EUR 32.4 billion. ots Originaltext: KfW Internet: http://www.presseportal.de Kreditanstalt für Wiederaufbau Palmengartenstr. 5-9 60325 Frankfurt Abt. Unternehmenskommunikation Verantwortlich: Dr. Matthias Fritton Press Dept: Nathalie Drücke, Sonja Contzen, Verena Tobeck, Christine Volk, Phone: (069) 7431-4400 Fax: (069) 7431-3266 presse@kfw.de www.kfw.de For further information please contact: Matthias Fritton Tel.: (069) 7431-2687 E-Mail: matthias.friton@kfw.de Original-Content von: KfW, übermittelt durch news aktuell

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