tailieunhanh - SAVINGS BANKS: A DYNAMIC STRATEGY BASED ON A STRONG IDENTITY

Yet in recent years, ailing institutions have also made use of bad banks as a method for repairing the balance sheets without governmental interference. Between 2003 and 2005, Dresdner Bank transferred billion euros in toxic loans and shares which had lost strategic relevance to a so-called Institutional Restructuring Unit (IRU). In 2008, WestLB, the Landesbank partially owned by the state of North Rhine-Westphalia, founded a consolidation vehicle named “Phoenix” in Dublin, Ireland. As an off-balance- sheet special purpose vehicle (without a banking license), Phoenix has already taken over assets with a book value of 23 billion euros. The owners have. | Lô 51 April 2006 SAVINGS BANKS A DYNAMIC STRATEGY BASED ON A STRONG IDENTITY 8th European Symposium on Savings Banks History 13-14 May 2004 Lô WORLD SAVINGS BANKS INSTITUTE EUROPEAN SAVINGS BANKS GROUP SAVINGS BANKS A DYNAMIC STRATEGY BASED ON A STRONG IDENTITY 8th European Symposium on Savings Banks History 13-14 May 2004 SAVINGS BANKS A DYNAMIC STRATEGY BASED ON A STRONG IDENTITY Table of Contents Foreword 6 Preface 7 Introduction 14 1. Corporate History and Corporate Culture 19 - WHEN IT COMES DOWN TO MONEY HISTORY AND CORPORATE CULTURE OF THE SAVINGS BANKS IN GERMANY 19 Wilfried Feldenkirchen - THE REFORMULATION OF RENAULT S IDENTITY SINCE 1975 32 Patrick Fridenson - THE EVOLUTION OF THE IDENTITY OF THE SAVINGS BANKS IN BELGIUM 43 Piet Van Beilingen - DISCUSSION 55 2. What makes Savings Banks Unique 60 - THE HISTORY OF THE SAVINGS BANKS IN THE CZECH REPUBLIC AND SLOVAKIA 60 Reinhard Ortner - THE SUCCESS STORY OF THE SPANISH SAVINGS BANKS 63 Inés García Pintos Baibas - WHAT MAKES SAVINGS BANKS UNIQUE IN GERMANY 70 Jurgen Hilse DISCUSSION 74 3. Present Culture and Current strategy What challenges lie ahead 89 - THE EVOLUTION OF THE FRENCH SAVINGS BANKS 89 Jean-Louis Hebert - FROM IDENTITY TO STRATEGY THE FRENCH SAVINGS BANKS GROUP APPROACH TO ITS VALUES 95 Jean Borenstein and Daniel Duet - THE HISTORY OF THE SAVINGS BANKS IN THE UNITED KINGDOM 113 Roger Grazebrook - DISCUSSION 119 4. Savings Banks Towards a New Identity 125 ROUND TABLE DISCUSSION - FRANCE 125 Maurice Benusilho - GERMANY 127 Christoph Schulz - AUSTRIA 131 Wilhelm Kraetschmer - RUSSIA 134 Andrey Trusov - DISCUSSION 139 5. EUROPEAN SAVINGS BANKS ACADEMIC AWARD 144 Chris De Noose 6. CONCLUSION 147 Jacques .