State-owned Landesbank Baden-Wuerttemberg said it plans to go after Germany’s wealthy and offer private banking services. The bank’s chi...

State-owned Landesbank Baden-Wuerttemberg said it plans to go after Germany’s wealthy and offer private banking services. The bank’s chief executive said in an interview with Handelsblatt newspaper that LLBW is targeting growth in its business with wealthy private clients, and small and medium-sized corporate clients. “We want (to attract) private investors with more than €1 million ($1.22 million) in assets, who previously chose private banks over municipally-owned savings banks,” Mr Jaschinski said. Based in Stuttgart, LBBW merged with Landesbank Rheinland-Pfalz in January to become Germany's fourth-largest bank by assets.