Air­bus Group ac­quires Salzburg München Bank


Air­bus Group closed the ac­qui­si­tion of Salzburg München Bank AG from Raif­feisen­ver­band Salzburg on 25 July 2014, al­low­ing the aero­nau­tics and space group to es­tab­lish its com­pany bank in order to pro­vide ad­di­tional fi­nanc­ing op­tions. Salzburg München Bank will be re­named Air­bus Group Bank in the third quar­ter of 2014 and grad­u­ally be de­vel­oped to pro­vide fi­nance so­lu­tions to sup­port the Group’s busi­nesses. For­merly 100 per cent owned by Raif­feisen­ver­band Salzburg, the ac­quired com­pany is a fully-li­censed bank based in Mu­nich serv­ing small and medium-sized en­ter­prises (SMEs) and pri­vate clients.

“With the clos­ing of this ac­qui­si­tion, I am grate­ful that we can now move for­ward with our bank project,” said Air­bus Group Chief Fi­nan­cial Of­fi­cer Har­ald Wil­helm. “All parts of Air­bus Group stand to ben­e­fit from the in­creased fi­nanc­ing flex­i­bil­ity that this bank will pro­vide.”

At the end of 2013, Salzburg München Bank had to­tal as­sets of around €330 mil­lion. The trans­ac­tion will not have any im­me­di­ate ef­fects on its ex­ist­ing clients or busi­nesses.

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