Helaba partners with LBBW

With the transaction, LBBW plans to expand its position as a provider of custodian services for special funds among public banks. In return, Helaba will become the leading provider in the specialty and precious metals business within the Sparkassenfinanzgruppe. In the contract, the Landesbanken agreed that interest rate, currency and raw material management (ZWRM) for Sparkasse customers would take place with LBBW in the future. Accordingly, Helaba will cease new raw material management business for end customers of the Sparkassen on 30 June 2022.

Other business with Sparkassen will continue to be offered by Helaba unchanged. Helaba will also end the custodian business for special and retail funds by 31 December 2022 and recommend its customers to switch to LBBW. In addition, it was agreed that in future, Helaba would bundle international business and international payment transactions for Sparkassen and their customers. Helaba is then available as a central partner in foreign payment transactions for the majority of the Sparkassen in Germany.