Magdeburg (dpa/sa) - The investment bank (IB) Sachsen-Anhalt is now legally independent. "As of today, IB will be separated from NordLB," said a statement from NordLB on Wednesday. This ends a long process that started in 2019. At the time, the state government wanted to separate IB from NordLB and establish it as an independent institute in Saxony-Anhalt. The IB develops funding programs, distributes public money, distributed Corona aid, among other things, and thus plays an important role in the implementation of state politics.
A spokesman for NordLB said the aim was also to make the group leaner. The IB had already been organizationally independent for a long time, and now legal independence is also to follow. According to the spokesman, no staff cuts are planned.
NordLB had to be rescued by its owners at the end of 2019. By the end of 2023, the bank wants to have 2,800 to 3,000 employees - it used to be 6,300. Among other things, the institute is active in financing energy projects from renewable sources. Together with the federal government and the state of Lower Saxony, for example, it is also involved in the planned LNG terminal in Stade.