Affiliated companies
The Bank’s direct and indirect subsidiaries are:
- LR Beteiligungsgesellschaft mbH (LRB)
- DSV Silo- und Verwaltungsgesellschaft mbH (DSV)
All material risks of the subsidiaries are concentrated in and centrally managed by Rentenbank. As in previous years, the scope of the subsidiaries’ business activity was strictly limited in the 2024 financial year. The primary activity of DSV was limited to the fulfilment of pension obligations to former employees of those entities for which DSV is the legal successor. LRB’s former subsidiary Getreide-Import-Gesellschaft mbH (GIG) was merged as the transferring entity with DSV as the acquiring entity by notarised contract dated 8 May 2024 with retroactive effect to 1 January 2024. GIG ceased to exist upon the entry of the merger in the Commercial Register on 14 May 2024. LRB’s business activity essentially consists in the management as a holding company and business management agent of the affiliate DSV and the investment of liquid funds. Rentenbank has issued a letter of comfort in favour of LRB, under it which it undertakes, insofar as and for as long as it holds 100% of LRB’s equity, to provide it with enough financial resources that it will be able to fulfil its obligations punctually at all times.