Bausparkasse Schwäbisch Hall (BSH) could soon become the first German Building Society to issue a benchmark Pfandbrief. GlobalCapital speaks to Rainer Eichwede, head of finance controlling at BSH, at the 13th LBBW European Covered Bond Forum in Mainz.
GlobalCapital:Can you tell us a little about BSH’s business model?
Rainer Eichwede, BSH: We offer a traditional ‘Bauspar’ product. ‘Bausparen’ is a system of saving-to-build: The customer saves an agreed amount and can take out a loan. A typical saving period is between six and nine years.