Development Bank of Saxony

{{Infobox company | name = Development Bank of Saxony |hq_location_city = Saxony | hq_location_country = Germany  | founded = 1991 | location = Leipzig |num_employees = 1,131 | key_people = Hartmut Vorjohann (Chairman of supervisory board) and Katrin Leonhardt (Chairman of management board) | assets = €8.2 Billion | homepage = [http://www.sab.sachsen.de/ www.sab.sachsen.de] }}

thumb|SAB headquarters in Leipzig shortly after completion in 2021

[[File:Dresden Sächsische Aufbaubank (01).jpg|thumb|right| SAB's former headquarters in Dresden, now one of the bank's registered addresses]]

The '''Development Bank of Saxony''' (known as SAB, an abbreviation of its German name ''Sächsische Aufbaubank''), founded in 1991<ref>{{Cite web|url=https://www.sab.sachsen.de/ueber-uns|title = Über uns; Sächsische AufbauBank (SAB)}}</ref> is the state development finance institution for Saxony, Germany.

==Activities== The Development Bank of Saxony allocates subsidies from sources like the European Regional Development Fund in the form of grants, sureties and loans to various sectors such as housing, business, infrastructure, education, environment and agriculture.

In 2016, the bank made over 50,000 payments and grants totalling almost 1.4 billion euro and loans of over 450 million euro.<ref>{{Cite web |url=https://www.sab.sachsen.de/die-sab/pressemitteilungen/presse-detail_64768.jsp |title=SAB legt Geschäftsbericht 2016 vor |access-date=2017-10-20 |archive-date=2017-10-20 |archive-url=https://web.archive.org/web/20171020191657/https://www.sab.sachsen.de/die-sab/pressemitteilungen/presse-detail_64768.jsp |url-status=dead }}</ref>

thumb|Street view of Sächsische Aufbaubank's headquarters, shortly after completion in 2021

==Location== The headquarters of the Development Bank of Saxony have been in Leipzig since January 2017, the building itself was completed in 2021.<ref>{{Cite web|url=http://www.lvz.de/Leipzig/Lokales/Saechsische-Aufbaubank-startet-spektakulaeren-Neubau-in-diesem-Jahr|title = Sächsische Aufbaubank startet spektakulären Neubau in diesem Jahr}}</ref><ref>{{Cite web|url=https://www.tag24.de/nachrichten/kostenexplosion-beim-leipziger-sab-neubau-jetzt-wehrt-sich-die-saechsische-aufbaubank-227480|title = Droht dem Leipziger SAB-Neubau das selbe Schicksal wie dem BER?}}</ref><ref>{{Cite web|url=https://www.lvz.de/Leipzig/Lokales/SAB-Neubau-in-der-Leipziger-City-verzoegert-sich-und-wird-immer-teurer|title=Kosten für SAB-Neubau in Leipzig steigen – Zastrow spricht von Steuergeldverschwendung}}</ref> The bank's registered offices are in Leipzig and Dresden.

The bank also has customer centers in Leipzig, Dresden and Chemnitz and a regional office in Görlitz.<ref>{{Cite web|url=https://www.sab.sachsen.de/service/standortsuche/index.jsp|title = Standortsuche | Sächsische AufbauBank (SAB)}}</ref>

== History == Between 1991 and 1995 L-Bank, Baden-Württemberg's state development finance institution, operated SAB. On December 19, 1995 SAB GmbH was created as an L-Bank subsidiary. SAB GmbH started operations on June 1, 1996. Since December 30, 2002, SAB has been a wholly-owned subsidiary of the state of Saxony.<ref>{{Cite web|url=http://www.sab.sachsen.de/de/sab/ueberblick/|title = Seite oder Objekt nicht gefunden | Sächsische AufbauBank (SAB)}}</ref>

In 2003 its legal form was changed to an Institution under Public Law (''Anstalt des öffentlichen Rechts'' in German).

==References== {{Reflist}}

Category:Economy of Saxony Category:Banks established in 1991 Category:Sub-national development banks Category:Government-owned banks of Germany Category:Nordvorstadt (Leipzig)