KfW
The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national development bank and as of 2018 Germany's third largest bank by balance sheet. Its name originally comes from Kreditanstalt für Wiederaufbau ("Credit Institute for Reconstruction"). It was formed in 1948 after World War II as part of the Marshall Plan.
KfW Westarkade, the headquarters of KfW in Frankfurt | |
| Formerly | Kreditanstalt für Wiederaufbau |
|---|---|
| Company type | Public law legal entity (Statutory corporation) |
| Industry | Financial services |
| Founded | November 1948 |
| Headquarters | KfW Westarkade, , |
Key people | Stefan Wintels (CEO) Christian Lindner (Chair of Supervisory Board) |
| Products | Housing finance, small and medium enterprise finance, export finance, import finance, foreign investment finance, development aid |
| €1.669 billion (2022) | |
Net income | €1.183 billion (2022) |
| Total assets | €555 billion (2022) |
| Total equity | €36.6 billion (2022) |
| Owner | Federal Republic of Germany (80%) States of Germany (20%) |
Number of employees | 7,984 (2022) |
| Website | www |
According to the OECD, Germany’s total official development assistance (ODA) (USD 35 billion, preliminary data) increased in 2022 due to an increase in in-donor refugee costs and increased contributions to international organisations. It represented 0.83% of gross national income (GNI).