The KfW IPEX-Bank GmbH is a wholly owned subsidiary of KfW and since 1 January 2008 acts as a legally independent bank governed by the German Banking Act. Its work focuses on international project and export financing. The banks headquarter is located in Frankfurt, where the KfW IPEX-Bank uses the Westarkade, which was completed in 2011.
Prehistory
The KfW, founded in 1948, used the instruments of export and project financing within its business model quite early on. In 1950 the KfW was given this task. This branch of their business became increasingly important in the 1980s and 1990s and, not least because of this, attracted the attention of the competition authorities of the European Union, who regarded the Bank's activities as a German development bank in the area of E&P as non-competitive. This is mainly because this business activity did not take place under market conditions within the protected area of a development bank secured by the German state and thus created an inadmissible competitive advantage. The outsourcing of the KfW's international project and export financing goes back to an agreement between Germany and the European Commission on the orientation of legally independent development institutions in Germany. Under the terms of the agreement, the KfW may use the refinancing benefits in the form of federal guarantees only for its original promotional activities as defined in a list of tasks. All other activities were, according to the agreement, spun off until the beginning of 2008 into a privately organized credit institution, which operates under the competitive conditions of the market. On August 15, 2003, the Deutscher Bundestag implemented this agreement in the Förderbankenneustrukturierungsgesetz. As of January 1, 2004, the brand KfW IPEX-Bank was constituted within the framework of a four-year transitional phase. On 1 January 2008, it was spun off in the legal form of a Limited liability company as a company and is subject to full tax liability and in particular the banking supervision, which does not apply to the parent company, the KfW.
Strategic focus and financing products
The KfW IPEX-Bank is a specialist bank for export and project financing. The tasks of the KfW IPEX-Bank consist of financing in the interest of the German and European economy and are derived from the statutory mandate of the KfW. The focus is on the provision of medium and long-term earmarked financing to support the export economy, the development of economic and social infrastructure, and environmental and climate protection projects. The KfW IPEX-Bank is active in the business sectors Basic Industry, Manufacturing, Telecommunications, Trade & Health, Energy & Environment, Shipping & Ports, Aviation & Airports, Rail & Road, Construction & PPP. Their financing offers range from traditional export-related export credits and trade financing to complex project and structured financing in various currencies, including the integration of export credit insurance.
Company data
of new committed loans were allocated to Germany, 38% to the rest of Europe and 38% to countries outside Europe. In 2016, the bank employed a total of 666 employees on average.
