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Suhlrie: supporting the
Mittelstand's access to
loans through securitizations
and refinancing is crucial in
a country where such a high
proportion of companies
rely on bank funding
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THE CAPITAL MARKETS are producing new ways for banks to create a profitable business from lending to Germany's small and medium-size companies – the Mittelstand – and KfW is playing a leading role. But evidence of better risk management in lending is scarce.
Foreign investors can breathe one small sigh of relief. If they found the name of Germany's development banking group, Kreditanstalt für Wiederaufbau, difficult to pronounce, they no longer need to bother trying. Its name in the capital markets is now simply KfW.
Splitting up KfW
That is the most cosmetic of a series of changes at the group over the past year. It has spun off its project- and export-finance division, keeping it within the group but allowing it to operate...
