View From The Top
Axel Nawrath, Chairman of the Board
Global Finance: What makes your bank one of the safest in the world?
Nawrath: L-Bank pursues a conservative investment strategy based on taking the long-term view. For years this has enabled the bank to rank in the top league of the world’s safest banks. We’re obliged to follow such a strategy on account of the responsibilities imposed on us by our development-bank remit: Our statutory mandate is to support the State of Baden-Württemberg in the performance of its public duties. And this means that on behalf of our owner (the State of Baden-Württemberg), we’re involved in administering economic, structural and social policies. At the same time, as the State of Baden-Württemberg’s development bank, we undoubtedly also benefit from our owner’s good credit standing—that is, from the fact that the federal state has been given top ratings by the major international rating agencies.
GF: How does your strategy compare with that of your peers?
Nawrath: In key areas—business strategy, overall strategy and the way our owner’s strength works to our advantage—we’re set up in very similar ways to the other major German development banks. And for many years, they’ve also occupied top-ranking positions among the world’s safest banks.