The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national development bank and as of 2018 Germany's third largest bank by balance sheet. Its name originally comes from Kreditanstalt für Wiederaufbau ("Credit Institute for Reconstruction"). It was formed in 1948 after World War II as part of the Marshall Plan. KfW is owned by the Federal Republic of Germany (80 percent) and the States of Germany (20 percent). It is led by a five-member executive board headed by CEO Stefan Wintels , which in turn reports to a 37 member Board of Supervisory Directors. The chair and deputy chair of the Board of Supervisory Directors are the German Federal Ministers of Finance and of Economic Affairs, with the positions alternating annually between them. Currently, the chairman is Christian Lindner, Federal Minister of Finance. More information...
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