Even if he made a good face, secretly Helaba boss Thomas Groß is likely to be quite annoyed: In 2022, the Hessische Landesbank will achieve the highest gross profit in its almost 633-year-old history with 70 million euros, and many journalists' questions revolved around why the other two Landesbanken LBBW and Bayern LB have earned even more. The ambitious-looking Groß has an unusual amount of influence as Chairman with simultaneous responsibility for the Finance department on the Executive Board. Gross wants to see Helaba grow, and there are certainly successes.
But the Hessian savings banks, as Helaba owners, should make sure that this Landesbank remains on the carpet, even in good years.
Traditionally, the real estate business has been their strongest pillar. Not having expanded it further by buying Berlin Hyp and instead leaving it to LBBW could prove to be right in the long term. The financial crisis of 2007/08 finally offered plenty of illustrative material about the evil play of Landesbanken, which had accumulated high risks and then got into trouble.