IKB Deutsche Industriebank AG (FWB: IKBG) is a bank headquartered in Düsseldorf, Germany.
Bafio dealt in long-term real estate financing in an effort to aid the German economy grow under the weight of the World War I reparations the country owed.
The German government's financing bank, KfW (formerly Kreditanstalt für Wiederaufbau), owned a 38% stake in IKB.
After several months of consideration of the sale of the IKB stake,[3] it was announced on 21 August 2008 that private equity firm Lone Star Funds would acquire a 90.8% holding in the bank.
[5] When the subprime market in the United States crashed in the summer of 2007, the global reach of the crisis was not immediately obvious.
[9] As a result of the losses suffered by IKB, the company was demoted from Deutsche Börse's mid-cap MDAX stock market index to the small-cap SDAX in March 2008.
[10] After the crash of its shares, the German financial watchdog BaFin and the Ministry of Finance opened an investigation into allegations of reporting and accounting misconduct.