KfW proves transparently popular

The flight to quality has brought KfW new bond investor friends to add to an already highly satisfied clientele. The bank hopes to broaden its paper’s appeal still further by stressing its quasi-sovereign status.

Gerhard Lewark

Gerhard Lewark, Kreditanstalt für Wiederaufbau’s treasurer isn’t a fan of transparency – at least as far as walls are concerned. On the day Euromoney meets him in Frankfurt he’s preparing to move into his new office in the neighbouring building. He’s not particularly eager because he won’t be able to hang pictures on its glass walls. Fortunately for investors in KfW’s bonds, though, this is where the dislike ends.

Interrupted by loud banging from next door as builders make the finishing touches, Lewark talks about the progress the German state-owned development bank has made since the beginning of last year.

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